VanEck launches WBMO, a multi-asset ETF with bitcoin exposure through listed products

An allocation managed by VanEck

VanEck announced the launch of the Wealth Builder ETF, trading under the symbol WBMO, on October 27, 2026. The prospectus lists NYSE Arca as its principal exchange, while the product page gives an inception date of October 26. The fund seeks long-term capital appreciation and current income. It brings several investment categories together in one exchange-traded vehicle, rather than offering exposure focused exclusively on bitcoin.

WBMO is actively managed. The manager establishes allocations across asset classes, selects underlying exchange-traded products and then adjusts their mix. Its process considers macroeconomic analysis, risk and return characteristics, liquidity and expenses. The portfolio can combine VanEck funds with those of other firms. This construction does not mechanically track an index weighted by market capitalization: allocation decisions and rebalancing are the manager’s responsibility.

Bitcoin through other investment products

The announcement describes a combination of global stocks, bonds and real assets, with a measured bitcoin allocation. Digital-asset exposure comes through ETPs, or exchange-traded products; WBMO does not hold digital assets directly. The official holdings report dated October 26 shows the VanEck Bitcoin ETF, under the ticker HODL, representing 1.89% of net assets. This report describes a dated position, rather than a weighting guaranteed for the future.

Using these products does not eliminate their risks. VanEck highlights the high volatility of digital instruments and different regulatory protections for certain underlying ETPs. The prospectus also classifies WBMO as a “non-diversified” fund under the U.S. Investment Company Act of 1940. That legal classification must be distinguished from the presence of several asset classes in the portfolio. A multi-asset marketing description therefore does not guarantee capital protection.

Net fees and their conditions

The prospectus table shows gross annual expenses of 0.33%, including a 0.15% management fee and 0.18% in acquired fund fees and expenses. A reduction of 0.07 percentage points brings the stated net ratio to 0.26%. These figures do not describe only the cost of bitcoin exposure: they cover the entire multi-asset structure and the products it uses. The calculation therefore includes costs borne indirectly through underlying funds.

The document also distinguishes the management fee waiver from the coverage of offering costs, which is provided until at least February 1, 2028. That date should not be turned into a promise of permanent pricing. Brokerage commissions and certain transaction costs remain separate from the ratios presented. Finally, because WBMO is a new fund, its growth and income objectives are neither a performance track record nor a commitment to deliver results to its future shareholders.