VanEck turns online slang into strategy with 'Degen Economy' ETF [MSNBC.com]
VanEck Vectors Gaming ETF (BJK)
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Source: MSNBC.com
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.Silas Stein | Picture Alliance | Getty ImagesVanEck is betting that what started as a slang for reckless online traders can sell an ETF.The firm is renaming itsgaming ETF (BJK)a regulatory filing. 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 .""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 expanding into companies earning at least 50% of revenue from "Millennial " and "Gig and Online Forums.""Millennial " includes digital brokerages, neobanks,
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