VanEck turns online slang into strategy with 'Degen Economy' ETF

Core Insights - VanEck is rebranding its gaming ETF to the "VanEck Degen Economy ETF," aiming to capitalize on the growth in digital finance, gig platforms, and online betting [1][2] - The ETF will adopt a new benchmark index and a broader investment mandate to reflect the emerging "Degen Economy," which includes high-risk, impulsive investment behaviors [2][3] Fund Details - The rebranding will take effect after the market close on April 8, and the fund, originally launched in 2008, currently has $23 million in assets [2] - The original focus on casinos and sports betting is being expanded to include companies generating at least 50% of their revenue from "Millennial Finance" and "Gig Economy and Online Forums" [3] Performance Context - The VanEck Gaming ETF has only increased by about 3% this year, underperforming compared to the S&P 500 [4]