New York, May 21 – Investment firm VanEck announced plans to launch a private digital asset fund in June, targeting tokenized Web3 projects built on the Avalanche blockchain. The VanEck PurposeBuilt Fund will be available exclusively to qualified investors, focusing on liquid tokens and venture capital opportunities in sectors such as gaming, financial services, payments, and artificial intelligence.
Unallocated capital from the fund will be directed toward Avalanche’s real-world asset (RWA) products, including tokenized money market funds. The fund will be managed by the same team behind VanEck’s Digital Asset Alpha Fund (DAAF), which reported over $100 million in net assets as of May 21.
Pranav Kanade, portfolio manager at DAAF, stated: “The next wave of value growth in crypto will come from real-world enterprise adoption, not just infrastructure development.”
Growing Interest in RWA and Thematic Crypto Funds
RWA has emerged as one of the fastest-growing sectors in crypto, according to data from RWA.xyz. VanEck’s latest offering joins a series of thematic funds launched by asset managers seeking exposure to Web3 innovations.
Earlier this month, VanEck introduced an actively managed ETF targeting stocks and financial instruments tied to the digital economy. In April, the firm rolled out a passive ETF tracking companies operating in the crypto sector.
VanEck is among several asset managers seeking SEC approval for up to 70 crypto ETFs, following the U.S. government’s softened regulatory stance under the Biden administration.
Avalanche’s Role in Institutional Crypto Adoption
Avalanche has positioned itself as a hub for RWA and institutional-grade blockchain solutions, leveraging its subnet architecture to enable controlled smart contract environments. On May 16, Solv Protocol launched a yield-bearing Bitcoin token on Avalanche aimed at institutional investors.
According to DeFiLlama, Avalanche’s total value locked (TVL) stood at $1.5 billion as of May 21.
John Nahas, Chief Commercial Officer of Ava Labs, noted: “The market is shifting from speculative hype to a utility-driven, sustainable token economy.”
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- Nasdaq-listed company BTCS added 8.4 million Ether to the company’s liquidity pool
- Hong Kong has passed a stablecoin bill to establish a licensing system in response to global competition
