The logos of the cryptocurrencies Bitcoin (BTC), Ethereum (ETH), the stablecoin Tether (USDT) and Binance Coin (BNB) can be seen on the trading platform CoinMarketCap.
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VanEck is betting that what started as a slang for reckless online traders can sell an ETF.
The firm is renaming its gaming ETF (BJK) the “VanEck Degen Economy ETF,” flipping the once-pejorative term into a marketing pitch for the boom in digital finance, gig platforms and online betting, according to a regulatory filing.
The change takes effect after the market close on April 8, resetting a fund launched in 2008 that has just $23 million in assets. Alongside the new name, the ETF will adopt a revamped benchmark index and a broad investment mandate meant to capture what VanEck calls the emerging “Degen Economy.”
“Degen,” short for “degenerate,” originated in gambling circles…
