VanEck Meets SEC Crypto Task Force
VanEck, a top-10 ETF issuer, met with the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force on Thursday. The discussion focused on how tokenization and staking could fit within regulated fund structures.
VanEck reported $132.9 billion in assets under management as of June 30, 2025. The firm submitted a written agenda and supporting materials before the meeting. The session addressed practical and regulatory questions about moving traditional funds onto blockchain systems.
Tokenization and Staking Discussed
Officials explored the tokenization of exchange-traded funds (ETFs). They considered what tokenization means for the issuer behind a tokenized fund. VanEck asked the task force to clarify how existing rules apply when fund shares are represented as blockchain tokens. They also discussed the impact on investor protections and market structure.
VanEck also raised questions about liquid staking tokens. The firm sought guidance on whether the SEC’s proposed Generic Listing Standards for Commodity and Crypto-Based Exchange-Traded Products apply to staking products. They discussed how exchanges and issuers should manage liquidity risk tied to staking within ETF wrappers.
Broader Regulatory Issues Raised
VanEck highlighted wider regulatory topics for review. These included how decentralized finance (DeFi) platforms, tokenized securities, and initial coin offerings (ICOs) should be regulated under current securities laws. The firm suggested updating the Advisers Act Custody Rule to better cover digital asset storage and management.
On custody, VanEck emphasized Multi-Party Computation (MPC) as a practical tool for safeguarding private keys. They recommended the SEC consider how technology-driven custody models should be regulated.
VanEck Representatives
- Wyatt Lonergan, General Partner
- Kyle F. DaCruz, Director of Digital Assets Product
- Matthew Sigel, Head of Digital Assets Research
- Jonathan R. Simon, General Counsel
- Matthew A. Babinsky, Associate General Counsel
This meeting is part of ongoing discussions between regulators and market participants. The SEC is exploring how to adapt securities rules for crypto-era products. Future guidance or rule changes could affect how fund managers design and list tokenized ETFs.
Read the meeting materials here: SEC VanEck Meeting Memo.
