VANECK
DIGITAL
TRANSFORMATION
ETF
SCHEDULE
OF
INVESTMENTS
June
30,
2025
(unaudited)
FootnoteRuleAboveBlank
Footnotes:
Number
of
Shares
Value
COMMON
STOCKS:
100.1%
Australia
:
5.7%
IREN
Ltd.
(USD) *
†
894,825
$
13,037,600
Underline
Canada
:
8.4%
Bitfarms
Ltd.
(USD) *
†
3,560,660
2,991,667
Defi
Technologies,
Inc. *
2,325,000
6,730,487
Hut
8
Corp.
(USD) *
497,668
9,256,625
18,978,779
China
:
3.0%
OSL
Group
Ltd.
(HKD) *
†
3,524,500
6,913,723
Underline
Germany
:
3.1%
Northern
Data
AG *
†
252,878
7,147,993
Underline
Japan
:
6.5%
Metaplanet,
Inc. *
†
1,290,500
14,690,596
Underline
Singapore
:
3.4%
Bitdeer
Technologies
Group
(USD) *
†
666,436
7,650,685
Underline
United
States
:
70.0%
Applied
Digital
Corp. *
†
764,875
7,702,291
Bit
Digital,
Inc. *
†
1,586,860
3,475,223
Block,
Inc. *
223,810
15,203,413
Cipher
Mining,
Inc. *
†
2,059,120
9,842,594
Circle
Internet
Group,
Inc. *
96,118
17,425,232
Number
of
Shares
Value
United
States
(continued)
Cleanspark,
Inc. *
†
924,449
$
10,196,672
Coinbase
Global,
Inc. *
65,358
22,907,326
Core
Scientific,
Inc. *
752,388
12,843,263
Galaxy
Digital,
Inc.
(CAD) *
†
476,795
10,419,954
MARA
Holdings,
Inc. *
†
751,620
11,785,402
MicroStrategy,
Inc. *
42,327
17,109,843
Riot
Platforms,
Inc. *
†
970,696
10,968,865
Terawulf,
Inc. *
†
2,089,963
9,154,038
159,034,116
Total
Common
Stocks
(Cost:
$189,302,278)
227,453,492
SHORT-TERM
INVESTMENT
HELD
AS
COLLATERAL
FOR
SECURITIES
ON
LOAN:
17.1%
Money
Market
Fund:
17.1%
(Cost:
$38,896,106)
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
38,896,106
38,896,106
Total
Investments:
117.2%
(Cost:
$228,198,384)
266,349,598
Liabilities
in
excess
of
other
assets:
(17.2)%
(39,079,222)
NET
ASSETS:
100.0%
$
227,270,376
Definitions:
CAD
Canadian
Dollar
HKD
Hong
Kong
Dollar
USD
United
States
Dollar
†
Security
fully
or
partially
on
loan.
Total
market
value
of
securities
on
loan
is
$60,341,409.
*
Non-income
producing