VanEck Foresees a Bright Future for Bitcoin: Predicts Historical High in a Year and Collective Approval of All BTC Spot ETF Applications!
VanEck’s Vision for Bitcoin’s Growth
VanEck, a New York-based asset management company specializing in ETFs and mutual funds, is also involved in hedge funds and independent accounts. As of September 30, 2023, the firm manages assets worth $76.4 billion and is among the 13 financial institutions that have submitted a Bitcoin spot ETF application to the SEC.
Further reading：SEC Chairman Softens Stance: Reconsidering Repeated Rejections of Bitcoin Spot ETFs
CEO’s Optimistic Outlook for Bitcoin
In a recent CNBC interview, VanEck CEO Jan Van Eck discussed the prospects of Bitcoin and the situation with spot ETFs. Having first proposed a Bitcoin ETF in 2017 when Bitcoin was valued at $3,000, Van Eck emphasized that “value investing” is ingrained in VanEck’s DNA. Addressing the maturity and stagnation concerns about Bitcoin, Jan Van Eck expressed an optimistic outlook:
“Bitcoin is growing, akin to a child in development. There are arguments about it being a bubble. It was a bubble in 2017 but later reached a historical high in 2021. Nothing that has been a bubble has ever surpassed its own performance like this.”
“I foresee Bitcoin creating a historical new high in the next 12 months.”
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Anticipating Collective Approval of Spot ETFs
On December 8, VanEck, managing $70 billion, resubmitted its Bitcoin spot ETF S-1 disclosure to the SEC. Interestingly, the filing revealed that VanEck’s stock symbol would be HODL, a term popular in the crypto community for holding onto cryptocurrencies long-term.
During the interview, after admiring the HODL stock symbol, the host inquired whether VanEck expects its Bitcoin ETF to be approved individually or along with the applications of many other institutions.
Further reading：Bitcoin Spot ETFs Approach Critical Milestone: A Comprehensive Look at SEC Review Dates and Negotiations
Responding to this, Jan Van Eck expressed his satisfaction with the company’s ticker symbol and his optimistic expectations for the approval of Bitcoin ETFs. He believes that they will be approved collectively at some point, drawing parallels to a similar situation that occurred in the Ethereum futures market, hinting at a potentially open stance by regulatory authorities towards cryptocurrency-related financial products.
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Keywords: VanEck, Bitcoin, Spot ETF, SEC, Asset Management, Cryptocurrency, HODL, Historical High, Market Growth, Financial Institution, Investment Outlook, Collective Approval, Financial Products, Regulatory Openness
