Vaneck’s (asset management firm) CEO expects the U.S. SEC (Securities and Exchange Commission) to approve several spot bitcoin ETF (exchange-traded funds) applications in a single day. He explained, “I very much expect it will be all in one day because that’s what happened with the Ethereum futures.”
Vaneck’s CEO On Spot Bitcoin Etf Approvals:
On Friday, in an interview with CNBC, Jan Van Eck said, “I think Bitcoin is the obvious asset that is growing up in front of our eyes. There are 50 million users of Bitcoin, so it’s got the network effect. I think it’s impossible for me to imagine some other, what I call, an internet store of value that’s going to leapfrog Bitcoin.”
The executive expects BTC to actually outperform Gold, motivated by their mutual sensitivity to the different interest rates, “Interest rates are headed down directionally speaking, so the macro behind bitcoin and gold are very strong. They both peaked in 2021. They’ve both been rallying this year. Obviously, bitcoin way more than gold for different reasons.”
Vaneck’s CEO also mentioned that April is good for BTC, highlighting that he is expecting the crypto to hit all-time highs in the next year. Recently, his firm also released its fifteen crypto predictions for the year 2024, mentioning that BTC should definitely reach an all-time high after Donald Trump manages to win the presidency.
Regarding whether the Securities Exchange Commission will actually approve one spot bitcoin ETF at some time or whether the regulator will actually approve several applications in a single batch, Jan Van Eck said, “I very much expect it will be all in one day because that’s what happened with the Ethereum futures.”
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