VanEck CEO: Bitcoin ETF Still Far Away

Jan van Eck, CEO of VanEck Associates says he doesn’t think we are going to see a Bitcoin ETF getting approved any time soon. On the bright side, it matters not one bit as Bitcoin will rise above everything regardless

Bitcoin ETF Still Far Away, VanEck CEO Says

“A bitcoin-backed exchange-traded fund (ETF) may not come as soon as many crypto fans hope, at least if we are to believe the CEO of one of the largest ETF providers in the U.S., VanEck Associates.

‘I agree with some commentators, I don’t see a bitcoin ETF being approved any time soon,’ Jan van Eck, CEO of VanEck Associates, said in an interview with Bloomberg TV on Wednesday.

In the wide-ranging interview that touched on many different aspects of the company’s ETF business, van Eck also said that he believes financial institutions will be able to get the exposure to bitcoin they are seeking, although he expressed doubt as to whether that would be a good idea for retail investors, or the general public.

‘Yes, vehicles that allow QIBs [qualified institutional buyers] or accredited investors to access it, that’s fine. But still [with an ETF], you’d have tens of millions of retail Americans invested with no regulatory protection…,’ the CEO said.”

Master Asked on January 23, 2020 in Bitcoin.
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