[Digital Today reporter Yoonseo Lee] Global asset manager VanEck has launched an active exchange-traded fund (ETF) that combines bitcoin exposure with stocks, bonds and real assets.

Cointelegraph, a blockchain outlet, reported on Oct. 27, local time, that the new product, the VanEck Wealth Builder ETF (WBMO), sets a bitcoin target weight of 2 percent and is designed to allow adjustments within a 1 to 5 percent range.

The fund invests in ETFs run by VanEck and external managers. Instead of holding bitcoin directly, it reflects investment performance tied to price moves through a spot bitcoin exchange-traded product (ETP).

The product expands VanEck's Wealth Builder model portfolio, which it has provided to financial advisory firms through external wealth management platforms, into an ETF. It puts an asset-allocation strategy offered through advisory channels into a listed product to improve access for individual investors.

David Schassler (데이비드 샤슬러), head of multi-asset solutions at VanEck, said the traditional 60/40 portfolio was designed on assumptions about an investment environment different from today. The aim is to add real assets to the existing asset-allocation approach of 60 percent stocks and 40 percent bonds to respond to a range of economic environments.

VanEck is also seen as having included bitcoin as one of the assets for diversification. It limits the allocation to 1 to 5 percent, using it as a tool to complement the portfolio rather than as a core holding.

The move also aligns with VanEck's strategy to expand distribution of digital assets. VanEck partnered with retirement pension platform Basic Capital in March and made it possible to select some of its digital asset ETFs in U.S. corporate 401(k) plans. The push to broaden bitcoin-related products from general investment accounts into retirement asset management has continued.

Looking at the product structure, the ETF is not a single bitcoin investment vehicle but closer to a hybrid product that adds limited cryptocurrency exposure within a multi-asset portfolio. As a result, the market may see it as a product aimed at demand to include bitcoin as part of long-term asset allocation rather than as a separate speculative asset.

VanEck's total assets under management were about $244.1 billion as of Sept. 30. With a large asset manager including bitcoin exposure within a traditional asset-allocation ETF, attention is expected to focus on how other managers reflect cryptocurrencies in mixed-asset products going forward.

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