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There is ‘no chance’ of Bitcoin-spot ETF in the US anytime soon, VanEck CEO claims


Johnivan0

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Exchange-Traded Funds (ETFs) have experienced a remarkable surge in popularity in recent years, attracting a broad range of investors seeking exposure to diversified portfolios of assets. While traditional stock investors have long enjoyed the benefits of ETFs, the crypto community has been eagerly eyeing the potential for Bitcoin-spot ETFs to enter the market.

However, Jan Van Eck, CEO of the global investment management firm VanEck, said on May 18 there is ‘no chance’ that a Bitcoin-spot ETF will be launched in the US in the near future, according to a Bloomberg report.

Van Eck added he doesn’t see this happening even if the US Securities and Exchange Commission (SEC) fails to secure a win in the legal dispute against Grayscale, which sued the securities regulator for blocking its move to convert its Bitcoin trust into an ETF.

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On 5/23/2023 at 10:40 AM, Johnivan0 said:

Exchange-Traded Funds (ETFs) have experienced a remarkable surge in popularity in recent years, attracting a broad range of investors seeking exposure to diversified portfolios of assets. While traditional stock investors have long enjoyed the benefits of ETFs, the crypto community has been eagerly eyeing the potential for Bitcoin-spot ETFs to enter the market.

However, Jan Van Eck, CEO of the global investment management firm VanEck, said on May 18 there is ‘no chance’ that a Bitcoin-spot ETF will be launched in the US in the near future, according to a Bloomberg report.

Van Eck added he doesn’t see this happening even if the US Securities and Exchange Commission (SEC) fails to secure a win in the legal dispute against Grayscale, which sued the securities regulator for blocking its move to convert its Bitcoin trust into an ETF.


 

Jan Van Eck, the CEO of VanEck, a global investment management firm, expressed his belief that the launch of a Bitcoin-spot ETF in the US is unlikely in the near future, as reported by Bloomberg. Van Eck emphasized that he sees "no chance" of this happening, even if the US Securities and Exchange Commission (SEC) doesn't succeed in its legal dispute against Grayscale. The statement suggests that the path to a Bitcoin-spot ETF faces significant hurdles and regulatory challenges, dampening the expectations of the crypto community eagerly awaiting such an investment opportunity.



 

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According to Jan Van Eck, CEO of VanEck, the prospects of a Bitcoin-spot ETF being launched in the US anytime soon are bleak. In a recent report by Bloomberg, Van Eck stated that there is "no chance" of a Bitcoin-spot ETF coming to the market, regardless of the outcome of the legal dispute between the SEC and Grayscale. This sentiment highlights the regulatory challenges and complexities surrounding the introduction of a Bitcoin-spot ETF, which has been a topic of interest among crypto enthusiasts. Van Eck's statement underscores the need for continued discussions and regulatory clarity before such a product can become a reality in the US market.

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