VanEck, a top-10 ETF issuer, met with the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force on Thursday to discuss how tokenization and staking could fit inside regulated fund structures.
VanEck, which reported $132.9 billion in assets under management as of June 30, 2025, submitted a written agenda and supporting materials ahead of the session. The meeting focused on practical and regulatory questions that arise when traditional funds move onto blockchain systems.
Tokenization and staking on the table
Officials examined the tokenization of exchange traded funds (ETFs), including what it would mean for the issuer that sits behind a tokenized fund. VanEck asked the task force to consider how existing rules apply when fund shares are represented as blockchain tokens and how that might affect investor protections and market structure.
A separate agenda item considered liquid staking tokens. VanEck sought guidance on whether the SEC’s proposed Generic Listing Standards for Commodity and Crypto-Based Exchange-Traded Products apply to staking products, and how exchanges and issuers should handle liquidity risk tied to staking within ETF wrappers.
Wider regulatory questions raised
VanEck also brought up bigger issues it wants regulators to look at, like how decentralized finance (DeFi) platforms, tokenized securities, and ICOs should be handled under today’s securities laws. The firm also suggested that the Advisers Act Custody Rule may need an update so it properly covers the way digital assets are stored and managed.
On custody, VanEck highlighted Multi-Party Computation (MPC) as a practical tool for safekeeping private keys and suggested the SEC consider how technology-driven custody models should be regulated.
Who represented VanEck
VanEck’s delegation included Wyatt Lonergan (General Partner), Kyle F. DaCruz (Director of Digital Assets Product), Matthew Sigel (Head of Digital Assets Research), Jonathan R. Simon (General Counsel), and Matthew A. Babinsky (Associate General Counsel).
The session is part of an ongoing series of meetings between regulators and market participants as the SEC weighs how to adapt securities rules for crypto-era products. Any guidance or rule changes that follow could affect how fund managers design and list tokenized ETFs.
Also Read: SEC’s Crypto Task Force Meets with SIFMA to Discuss Regulations
