Owns companies that run crypto exchanges, payment gateways and crypto mining or supply their software, plus futures and exchange-traded products that hold digital assets.
NODE, the VanEck Onchain Economy ETF, is a $71 million ETF whose main story is onchain infrastructure. Over the past year it returned −7.1%, against +16.8% for broad US ETFs. Figures to October 2, 2026; past performance, not a recommendation.
The narrative it carries
Its main narrative, at 0.7 of its exposure.
Onchain infrastructure →
Network tokens such as Solana, and the blockchain companies building payment and trading systems on them.
The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.
| # | ETF | SHARE | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|---|
| 1 | BSOL | 20.6% | $1.33bn | – | – |
| 2 | ETH | 16.6% | $2.51bn | −39.8% | 0.15% |
| 3 | ETHE | 12.9% | $1.95bn | −41.3% | 2.50% |
| 4 | ETHB | 7.8% | $1.18bn | – | 0.25% |
| 5 | FSOL | 5.3% | $239.3m | – | – |
| 42 other ETFs | 36.8% |
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 47 ETFs on the narrative page →
Also carries: Crypto conviction →
Bitcoin, ether and the companies around them, held through ETFs.
FRI OCT 2MARKET PRICE TOTAL RETURN
| 1M | 3M | YTD | 1Y | 3Y* | 5Y* | |
|---|---|---|---|---|---|---|
| NODE | +5.0% | −2.0% | +13.6% | −7.1% | – | – |
| Onchain infrastructureits narrative | +15.1% | +49.2% | +0.3% | −37.2% | +33.2% | +1.3% |
| The marketbroad US ETFs | +0.8% | +2.6% | +14.6% | +16.8% | +22.9% | +12.9% |
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on May 14, 2025: +34.3% a year.
$10,000 invested May 31, 2025
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
How closely it moves
NODE moves partly with the market. When the market has moved 1%, NODE has tended to move 1.85%.
NODE moves partly with onchain infrastructure. When onchain infrastructure has moved 1%, NODE has tended to move 0.42%.
Weekly returns over 72 weeks. The narrative is measured without NODE in it, so it is not compared with itself.
ETFs it moves most and least like
Correlation of weekly returns over the last 3 years, among unlevered ETFs StoryVector covers.
Where it sits in Onchain infrastructure
Each dot is one of 5 unlevered ETFs whose main narrative is onchain infrastructure, placed by its return (up) and how much it swung (right) over the last year.
Risk
Cost against its peers
NODE is the 11th cheapest of 16 ETFs in onchain infrastructure. The dashed line is the middle of the group, 0.42% a year.
How it is built
An unlevered long ETF that owns its holdings directly. It counts toward Share of Narrative.
Narrative exposure
Second narrative: read in the ETF’s own filing.
Common questions
What story is NODE selling?
NODE’s main story is onchain infrastructure, which covers network tokens such as Solana, and the blockchain companies building payment and trading systems on them. Its second is crypto conviction.
Which ETFs compete with NODE?
The ETFs whose weekly returns move most like NODE’s over the past 3 years are BLOX (0.96), BKCH (0.96) and IBLC (0.96).
How has NODE performed against its story?
Over the past year NODE returned −7.1%, the ETFs carrying onchain infrastructure −37.2% and broad US ETFs +16.8%, to October 2, 2026. Its weekly returns have a correlation of 0.58 with the story. Past performance only.
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