VanEck Subsidiary Launches Index Exclusively Featuring Memecoins

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A new fund focused exclusively on meme coins like SHIB was introduced by MarketVector, a VanEck subsidiary specializing in digital assets. The index tracks the performance of Shiba Inu and five other meme coins like DOGE, WIF, BONK, PEPE, and FLOKI. To eliminate risks and promote diversification, MarketVector capped the weightings of the assets in the index at 30%, where Shiba Inu got weightings of 28.01% and Dogecoin’s weightings at 30.64%. MarketVector also clarified that the fund was for entertainment purposes, given its volatile nature.