VanEck turns online slang into strategy with ‘Degen Economy' ETF [CNBC]
VanEck Vectors Gaming ETF (BJK)
NASDAQ:AMEX Investor Relations:
vaneck.com/etf/equity/bjk/overview
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Source: CNBC
Silas Stein | Picture Alliance | Getty Images 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 and later migrated into crypto and retail-trading communities as a tongue-in-cheek label for people making high-risk, often impulsive bets. The original gaming ETF targeted casinos, sports betting, lottery services and gaming players. Now the Degen ETF is ex
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