Bitdeer Secures Second-Largest Position in VanEck Crypto and Blockchain ETF

by Nik Asti

Published: July 19, 2023 at 3:30 am Updated: July 19, 2023 at 2:19 am

by Danil Myakin

Edited and fact-checked: July 19, 2023 at 3:30 am

In Brief

Bitdeer, a Bitcoin mining company listed on NASDAQ under the ticker symbol BTDR, has recently secured the position of the second-largest constituent in the VanEck Crypto and Blockchain Innovators UCITS ETF, providing investors with exposure to the mining sector and highlighting its crucial role in the security and operation of blockchain networks.

Bitcoin mining firm Bitdeer has ascended to become the second-largest component in the VanEck Crypto and Blockchain Innovators UCITS ETF. Known as Bitdeer Group on Nasdaq and trading under the ticker symbol BTDR, Bitdeer only ranks behind Coinbase, the leading cryptocurrency exchange, with an 8.13% weightage in the ETF.

Bitdeer Secures Second-Largest Position in VanEck Crypto and Blockchain ETF

The VanEck Crypto and Blockchain Innovators UCITS ETF is designed to offer investors exposure to entities deeply embedded in the crypto and blockchain industries. The ETF incorporates a diversified portfolio that includes notable names from the mining industry, technology providers, and blockchain-centric enterprises.

Bitdeer’s significant weight in the ETF reflects the market’s acknowledgment of the company’s contributions to the Bitcoin mining ecosystem. As an industry leader, Bitdeer supplies sophisticated mining infrastructure and services, facilitating both individual and institutional participation in the Bitcoin network and contributing to its security and decentralization.

The VanEck Crypto and Blockchain Innovators UCITS ETF allocates its remaining proportions to other industry heavyweights. Marathon comprises 6.81%, Microstrategy makes up 6.42%, Hut 8 constitutes 6.41%, Block Inc. holds 6.10%, Riot has 5.7%, Bit Digital carries 5.45%, Hive controls 5.32%, and Iris accounts for 4.64% of the ETF’s distribution.

Bitdeer ETF

Bitdeer’s inclusion in the ETF lets investors tap into the mining sector. This sector is crucial for blockchain network security and operation. Bitdeer’s presence signifies the growing relevance of mining activities within the broader crypto sphere.

Bitdeer’s rising prominence in the VanEck ETF highlights its success and investor return potential. The constant evolution of the mining industry plays into Bitdeer’s hands. Its innovative solutions and strategic position could drive its growth and market influence.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti