VanEck, one of the firms that issue spot Bitcoin exchange-traded funds (ETFs) in the US, has launched a new initiative to support early-stage crypto and artificial intelligence projects.

VanEck Ventures, which announced on October 9, has created a $30 million fund to invest in fintech, crypto and artificial intelligence startups.

The fund will focus on areas such as tokenized assets, internet-based financial markets and payments using stablecoins.

VanEck Ventures plans to make 25 to 35 investments, with each investment ranging from $500,000 to $1 million.

The fund has already made four investments, but those investments have not yet been disclosed.