Circle stock becomes largest component of VanEck’s digital asset index
Shares of the stablecoin issuer account for roughly 13% of the MVDAPP, said VanEck’s Mathew Sigel.
Shares of Circle Internet Group (CRCL) holds the largest weighting in VanEck’s digital asset corporate index, highlighting the stablecoin issuer’s growing influence in the crypto economy.
Circle stock makes up 13% of the MVIS Global Digital Assets Equity Index (MVDAPP), which was developed by a VanEck subsidiary to track the performance of the largest and most liquid companies in the crypto sector. That marks an increase from around 11% on Friday.
Investors can gain exposure to MVDAPP through VanEck’s Digital Transformation exchange-traded fund (ETF), which aims to track the index “as closely as possible,” according to the firm’s prospectus.
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