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- 1 Jan Van Eck has shared the expected date of release of Van Eck’s spot BTC ETF.
- 2 He said that Van Eck will share its profit from ETFs with Bitcoin developers.
- 3 He says that it will be a positive sign for all the ETF applicants and they all will have shared benefits.
VanEck’s CEO, Jan Van Eck, recently appeared in an interaction with CNBC’s Bob Pisani on Tuesday morning, where he shared his views about expected ETF approval and the date of release of the company’s ETF.
Expected Date of Release
He was asked if he expects the Bitcoin ETF to be released on Thursday. To which he very positively replied, “Yeah.”
Assets managers and all the Bitcoin enthusiasts are very well spying on all the information being released about the expected approval of the spot BTC ETF.
Most of the asset managers are positive about the approval of the spot bitcoin ETF from the Securities and Exchange Commission of the USA. Asset managers have been waiting for this announcement for months now.
They have filed for and updated documents rapidly within the time frame the SEC provided to not give the commission any chance to reject their application.
He expects the SEC to announce its decision by Wednesday evening and the products can start trading on Thursday.
Other Applicants
Valkyrie Investments is also expecting a positive decision. It had told the Block that the SEC would deem the Bitcoin ETF effective as of Wednesday evening.
The number of Bitcoin ETF applicants has reached a double-digit number and all the applicants will compete with each other but it will benefit all of them.
He also said that the crypto market will have a precedent for ETFs in the form of Ethereum futures ETF applications.
All the applicants are set to launch their ETF on the same day. He mentions that the SEC will create policies around ETF so that no applicant can benefit over another. With this, no applicant will be a winner. The share of benefits will be distributed among all the members. There will be multiple winners.
Van Eck pointed out that short-term positioning will depend on the upcoming approval. With this buzz around BTC ETF, he found a possibility that investors are ignoring the importance of upcoming bitcoin halving and the Federal Reserve halting interest rate increases.
He comments that Bitcoin and gold are both assumed to gain value as a store of value. Along with the probable launch of the ETF, Jan Van Eck has brought Bob Pisani’s attention to Van Eck’s pledge to donate a significant portion of earnings from the ETF to Bitcoin core developers.
Van Eck’s Idea of Investment
As a consensus to their donation, he says, “There are a lot of developers that have worked for free to build the Bitcoin network and continue to add and make changes to that network, and we want to pay respect to those developers.” So, to pay respect to these developers, the company wants to dedicate its profit generated from ETF.
To emphasize the potential of Bitcoin, he linked digital assets to gold. He suggests investors think about where to take the number one cryptocurrency.
He also says that, however, there are some investors who don’t care about store value investing but if they do, bitcoin is comparable to gold. There are other commodities as well that can be compared with BTC. He advises investors to make wise decisions for their investments.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
