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VanEck reportedly announced on Wednesday that it’s rebranding its ‘Gaming ETF’ (BJK) to the ‘VanEck Degen Economy ETF,’ and it’s more than just a change of name.
According to a post on X by Eric Balchunas, a senior analyst at Bloomberg Intelligence, the company will also be switching up its investment objective and principal investment strategy. VanEck is scheduled to implement the change after trading ends on April 8, 2026.
The new fund will track the ‘Degen Economy’ Index. For companies to be eligible for the index, they need to generate at least 50% of their revenue from either millennial finance, gig economy, and online forums, or digital sports betting and video game developers.
This could include cryptocurrency exchanges, digital brokerages, iGaming software firms, buy-now-pay-later (BNPL) companies, online forums, and taxi and food delivery services.
VanEck’s Gaming ETF was trading flat in midday trade, with retail sentiment on Stocktwits in ‘neutral’ territory over the past day.
The VanEck Gaming ETF follows a market-cap-weighted index of global companies that get at least 50% of their revenue from casinos and casino hotels, sports betting, lottery services, gaming services, gaming technology, and gaming equipment.
Its current holdings include major organizations like Las Vegas Sands, Aristocrat Leisure, VICI Properties, DraftKings, Wynn Resorts, and Flutter Entertainment. The top 10 positions make up about 58% of the net assets.
Since starting out in 2008, BJK’s long-term performance shows a cyclical pattern, experiencing substantial gains during industry expansions and declines during downturns. An initial investment of $10,000 went through major swings, indicative of the sector's intrinsic volatility.
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