VanEck Bets Big on Avalanche with New ’PurposeBuilt Fund’—Wall Street Finally Notices Real-World Crypto Use Cases

Asset management giant VanEck just dropped a targeted fund for Avalanche-based projects—because apparently blockchain isn’t just for JPEGs and memecoins anymore.

The move signals institutional recognition of AVAX’s niche: high-speed, low-cost smart contracts for actual businesses. Think supply chain tracking, not just degenerate gambling.

Of course, the finance world still can’t resist slapping a branded wrapper on decentralized tech—because why let anarchic innovation exist without a 2% management fee?

Will PurposeBuilt Fund act as a catalyst?

To ensure capital efficiency, the PurposeBuilt Fund will allocate idle assets into Avalanche-native real-world asset (RWA) products, such as tokenized money market funds.

This approach preserves liquidity while actively reinforcing the broader onchain ecosystem.

The same team that manages VanEck’s Digital Assets Alpha Fund (DAAF) will steer the fund. According to Pranav Kanade, portfolio manager for DAAF, 

“The next wave of value in crypto will come from real businesses, not more infrastructure,” 

That being said, the team aims to solve a major challenge in the crypto space by helping credible blockchain projects rise above the noise of short-term speculation.

John Nahas, Chief Business Officer at Ava Labs, hailed the fund as a milestone for Avalanche, emphasizing its potential to attract dedicated founders who focus on real utility and long-term token value.

“VanEck PurposeBuilt Fund aims to bring the kind of long-term capital and strategic conviction that builders need to lead that shift.”

He continued,

“This fund reinforces the strength of Avalanche as the home for serious founders who are scaling real businesses and driving meaningful onchain adoption.”

Avalanche also appreciated this, as it noted,

Source: Avalanche/X

Impact on AVAX’s price

This led to Avalanche’s native token, AVAX, trading around $24.29 at press time, marking a 7.45% daily gain and a 44% rise over the year.

It’s worth noting that, besides launching its PurposeBuilt Fund, VanEck has now filed with the U.S. SEC to introduce the first spot Binance [BNB] ETF, signaling growing institutional interest in altcoins.

If approved, the ETF WOULD offer U.S. investors a regulated pathway to gain direct exposure to Binance Coin, adding to the momentum behind over 70 active altcoin ETF applications currently in play.