Global asset management firm UBS found that their high net worth clients have chosen to abandon the dollar as well as its linked assets in favor of investing in more alternative assets such as gold and crypto. According to a…

UBS: Wealthy clients are shifting away from U.S. dollar-based assets and turning to gold and crypto

Top House Democrats are pressing the Treasury Department to release all 
suspicious activity reports related to Donald Trump’s crypto ventures, Elon 
Musk’s America PAC, the GOP fundraising platform WinRed, and several alleged 
scam PACs. The May 14 letter, signed by…

Democrats demand treasury reports on Trump crypto, Musk PAC

Galaxy Digital, owned by billionaire Mike Novogratz, received an upgrade to 
its buy rating from a major financial firm.

Novogratz’s Galaxy Digital gets upgraded buy rating ahead of Nasdaq listing

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VanEck has launched a new actively managed exchange-traded fund (ETF) designed 
to invest in stocks and financial instruments offering exposure to the digital 
economy, the asset manager said on May 14.
The VanEck Onchain Economy ETF (NODE) is listed on the Cboe exchange and aims 
to provide investors with broad exposure to companies operating in the 
blockchain ecosystem, including crypto miners, exchanges, infrastructure 
providers, and crypto-oriented financial technology platforms, VanEck said in 
a press release.
The NODE ETF will also &#8220;consider any company that has clearly communicated 
plans to engage in this space, as evidenced through public filings, earnings 
calls or investor materials,&#8221; VanEck said.
Additionally, the fund, which will be actively managed, may also invest in 
crypto-related financial instruments but will not hold any cryptocurrencies 
directly, according to the press release.
&#8220;As new companies enter the universe through IPOs, spinouts or strategy 
shifts, we will continuously update our investable universe,&#8221; Matthew Sigel, 
VanEck&#8217;s head of digital asset research and the NODE ETF&#8217;s portfolio manager, 
said in a statement.
&#8220;We will also adjust beta and volatility to maintain responsible exposure to 
bitcoin and to businesses driving the growth of the onchain economy, avoiding 
over-allocation to high-beta names during frothy markets and preserving buying 
power for future opportunities,&#8221; he said.
Beta refers to a financial asset&#8217;s exposure to market volatility.
_Top holdings of VanEck &#8216;s NODE ETF. Source: __VanEck_
 _**Related:**__**Strategy will beat all public equities with Bitcoin, analyst 
says**_
## **Other ETF filings**
In April, VanEck launched another ETF tracking crypto companies. The VanEck 
Digital Transformation ETF (DAPP) invests in a passive index of companies 
operating in the digital asset space.
The DAPP ETF has $185 million in net assets as of May 14, according to its 
website.
Asset managers such as VanEck are requesting the US Securities and Exchange 
Commission&#8217;s (SEC) permission to list upward of 70 crypto ETFs.
The flurry of ETF filings is in response to US President Donald Trump 
softening the SEC&#8217;s regulatory posture toward crypto after taking office in 
January.
On May 5, VanEck asked the SEC for a green light to list an ETF holding the 
BNB Chain&#8217;s native token.
_**Magazine: **__**Bitcoin to $1M &#8216;by 2029,&#8217; CIA tips its hat to Bitcoin: 
Hodler&#8217;s Digest, April 27 &#8211; May 3**_

VanEck launches 'Onchain Economy' ETF

BNB is currently mid-range in a long-term channel, with a potential drawdown 
to $400 before resuming bullish momentum. Technical confluence at key levels 
strengthens the case for a healthy correction. Binance Coin (BNB) has been 
riding a bullish market structure…