VanEcksteemCreated with Sketch.

in bitcoin •  last year

VanEck by Teeka Tiwari

This Major Gold Investor Is Buying Into Bitcoin
By Teeka Tiwari, editor, Palm Beach Confidential

VanEck is one of the biggest asset managers in the United States.
The firm opened in 1955. And in 1968, it launched the VanEck International Investors Gold Fund (INIVX), the first U.S. gold fund.
Today, VanEck’s exchange-traded funds (ETFs) have $30 billion in assets under management. That’s more than ETF issuers JPMorgan, Goldman Sachs, and Barclays.
The company offers more than 50 ETFs. And it manages assets for over 400 institutions—including banks, pension funds, and endowments.
Here’s the thing about VanEck…
It specializes in precious metals. Most of its assets are gold investments. And it runs some of the world’s largest gold funds.
But now the company is making the jump into bitcoin.
On August 11, VanEck filed with the U.S. Securities and Exchange Commission (SEC) for the VanEck Vectors Bitcoin Strategy ETF.
The fund would initially invest in bitcoin futures contracts and trade on the Nasdaq.
It’s no surprise VanEck is launching a bitcoin ETF. The cryptocurrency has vastly outperformed gold this year (see chart below).

As you can see, bitcoin has crushed gold this year. Bitcoin is up 310% since January, while gold has gained only 11%.
Don’t get me wrong. I like gold. I own it and suggest that my subscribers have a portion of their assets in gold.

The folks at VanEck see the upside potential in bitcoin. They know they can make millions in fees getting into the bitcoin ETF business early.
I’m certain we’ll see more traditional asset managers like VanEck eagerly lining up to launch bitcoin ETFs.
We don’t know whether the SEC will approve this ETF. But this is the latest evidence that bitcoin is becoming mainstream.
As more people adopt bitcoin, we could see a price of $5,000 this year.
We remain very bullish on bitcoin. You should own some today.
Let the Game Come to You!

Teeka “Big T” Tiwari
Editor, Palm Beach Confidential

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

interesting!Big like for you!

Not surprised if a company which is a gold fanatic moving onto creating their own crypto. Bitcoin and altcoins are pretty much Gold 2.0 with the same concept as gold as a store of value which appreciates but it is actually translatable with exponential growth.
Thank you for sharing this great article @davidp

Metals and BTC woow fat profits there

i think more and more hedge funds and investors from other areas will look into bitcoin

Oh yeah that's great news! Bitcoin is getting popular. It's gonna smash all the competition!

Where VanEck is going, I am going too, simple as that :) Let the bitcoin empire rise.

Nice post @davidp sir, btc is going viral, surely it's huge profit there.

Nice post @davidp sir, with the increasing No of BTC wallets everyday i think it's obvious that BTC in next few months becomes viral sort of thing like FB and twitter.

party is about to get started

Good news for crypto world

Bitcoin is gold:)
thank you for sharing

bitcoin going to the moon :)

Bitcoin is the future of crypto world

About time "the real players" start taking notice...

Soon bitcoin will become the main currency, such as gold.

Nice informative post @davidp sir, thanks for sharing