VanEck Onchain Economy ETF buys the dip after losses, faces no margin calls

The VanEck Onchain Economy ETF, trading under the ticker NODE, recently increased its positions after taking losses, and notably did so without triggering any margin calls. That’s because NODE doesn’t use leverage, a design choice that sounds boring until you remember how many leveraged crypto products have spectacularly imploded over the past few years. What NODE actually does Launched on May 13, 2025, NODE is VanEck’s bet on the “onchain economy,” a broad umbrella covering blockchain infrastructure, digital assets, crypto mining, and AI compute services. It’s an actively managed ETF, meaning a team of humans (not just an index algorithm) decides when to buy, sell, and rebalance. The fund currently holds between 59 and 64 positions. Its largest single holding is VanEck’s own Bitcoin ETF, HODL, which accounts for roughly 10.5% of the portfolio. Beyond Bitcoin, NODE has been building positions in crypto mining and AI infrastructure companies. Names like TeraWulf (WULF), Cipher Mining (CIFR), HUT 8 (HUT), and Applied Digital (APLD) have all seen increased weightings in recent months. With approximately $65 million in assets under management, NODE carries a 0.67% expense ratio. The di...