Jan van Eck, CEO of investment management company VanEck, stated that the US Bitcoin spot ETF has attracted significant inflows of capital from retail investors in the four months since its launch. In an interview with Cointelegraph during the Paris Blockchain Week, van Eck expressed that the initial success of these ETFs has exceeded his expectations, with some trading days seeing billions of dollars in capital inflows. However, he believes that these inflows have not been influenced by substantial investments from traditional financial participants.
Van Eck further stated that, so far, no US bank has officially approved or allowed its financial advisors to recommend Bitcoin. While there may be significant institutional investments from banks and traditional companies next month, the landscape of Bitcoin ETFs is still in its early stages, he added.
When asked why investors prefer investing in Bitcoin ETFs rather than directly purchasing and managing Bitcoin themselves, van Eck mentioned convenience as a primary reason. Investors want fund managers to handle their entire investment portfolio, he said.
Despite the widespread attention on the impact of Bitcoin ETFs and Bitcoin’s surge in 2024, van Eck believes that their influence may be exaggerated.
Van Eck pointed out that the significant increase in Bitcoin prices in early April did not occur during US trading hours, indicating the influence of the Asian market.
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Related reports: “US Bitcoin spot ETF sees net inflows of $123.7 million, GBTC net outflows hit a new low” and “VanEck CEO: Transaction fees on the blockchain are more worth paying attention to than Bitcoin or Ethereum ETFs.”
