VanEck, an American asset management company headquartered in New York, focuses on the issuance and management of ETFs and mutual funds, and also operates hedge funds and separate accounts. As of September 30, 2023, VanEck managed $76.4 billion in assets and was one of 13 financial institutions to submit a Bitcoin spot ETF application to the SEC.
On December 16, VanEck CEO Jan VanEck discussed the prospects of Bitcoin and the overview of spot ETFs in an exclusive interview with CNBC. He first mentioned that VanEck was the first company to propose a Bitcoin ETF in 2017, when the price of Bitcoin was only $3,000. Today, the price of Bitcoin has increased more than 10 times. VanEck has always adhered to the concept of "value investing", which is also their core DNA. He further emphasized that Bitcoin, as a digital asset, has great potential but also faces some challenges. VanEck is working hard to promote the development of spot ETFs so that more investors can participate in this market. He believes that as regulations further mature and the market develops, Bitcoin and other digital assets will become an important part of investment portfolios.
When asked whether Bitcoin has reached a stage of maturity and stagnated, Jan VanEck gave an optimistic answer: Bitcoin is growing, just like a child is growing. Although some debate whether it is a bubble, we cannot deny that 2017 was a bubble, but then in 2021 Bitcoin reached an all-time high. This shows that nothing is ever a bubble but outperforms itself. Therefore, I predict that Bitcoin will reach new all-time highs within the next 12 months.
On December 8, the US asset management giant VanEck once again submitted the S for Bitcoin spot ETF to the SEC with a record scale of US$70 billion in funds under management. -1 Investor disclosure prospectus. Interestingly, public documents show that VanEck’s stock symbol will be HODL, which is a currency circle term that refers to holding cryptocurrencies for the long term without selling.
During the interview, the host praised the HODL ticker and asked Jan VanEck if they expected their Bitcoin ETF to be approved independently or if it would need to be approved together with applications from other institutions.
Jan VanEck said they are satisfied with the company's stock ticker. He also expressed optimism about Bitcoin ETF approval and expected it to happen in the future. He explained that the experience in the Ethereum futures market indicates that regulators may be more open to cryptocurrency-related financial products.
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