VanEck launched the Wealth Builder ETF today, trading on the NYSE under the ticker WBMO. The actively managed fund packages the firm’s Wealth Builder model portfolios, which advisers have used through third-party platforms, into one product anyone with a brokerage account can buy.
VanEck, which oversees about $244 billion in assets, selects the holdings, sets the weights and rebalances the portfolio.
VanEck describes the product as a way to “gain exposure to a broad mix of investments across stocks, bonds, gold, and bitcoin with a single ETF purchase.” The fund holds global stocks, bonds, gold and other real assets.
Its bitcoin exposure is indirect. WBMO owns no bitcoin. A wholly owned Cayman Islands subsidiary holds certain investments and gains digital asset exposure through exchange-traded products, which are funds that hold bitcoin or track it.
The subsidiary is generally capped at 25% of total assets at each quarter-end, but that limit covers several asset categories. The prospectus sets no specific bitcoin target. Investors do not need a wallet, seed phrase or exchange account to hold the bitcoin slice. They also cannot control the bitcoin position directly.
JUST IN: $200 billion VanEck includes Bitcoin exposure in their new Wealth Builder ETF 
"This fund brings Bitcoin to investors who want one simple diversified holding" 
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The fund’s gross expense ratio is 0.33%. A 0.07% fee waiver brings the net ratio to 0.26%. The underlying bitcoin products charge their own fees.
The allocation also limits the swings. If bitcoin rises sharply, WBMO captures only part of the gain.
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