Jan Van Eck Supporting a Positive Growth of Bitcoin ETF in 2024

Jan Van Eck, the current CEO of VanEck, has recently appeared in a conversation on CNBC. He predicted that Bitcoin would soon hit new highs and break all previous records. He also predicted that bitcoin will grow parallel to gold and is recommending a bright future for cryptocurrencies.

Jan Van Eck has been working for almost thirty years. He has worked on three different projects in the period, including a fund management joint venture in China, building their hedge fund business, and launching their ETF in 2006. 

He says that he enjoys working on funds and likes to help investors by providing types of portfolio exposure that might be valuable in future markets. He has a Bachelor of Arts in Economics from Williams College, and he has also completed a Doctorate in Law from Standford School of Law.

He has been serving as CEO of Van Eck since 1991.

VanEck finalized its Bitcoin ETF ticker, “HODL”

HODL has two significances in the market and represents the company’s viewpoint on the cryptocurrency, specifically Bitcoin. The first significance is that it is miss- abbreviated from the word hold. The other significance is the short form of the phrase “hold on for dear life.”

He is expecting an announcement of approval for the Bitcoin ETF in-between the first and second weeks of January.

Involvement of Jan Van Eck in Cryptocurrency

Van Eck entered the Bitcoin space in 2017 when the Bitcoin and cryptocurrency space was booming. He has compared Bitcoin with gold and said that both instruments have a store of value. 

He mentioned that it matches with the company’s foundation belief, which his father set when he established the company. 

Van Eck also said that fundamental investors like Warren Buffet might not like to invest in Bitcoin as it does not generate interest income, but he defends it by saying it grows in correlation with the growth of the economy, and past trends in the market have supported it.

Jan Van Eck’s Trust in Bitcoin

The interviewer asked Jan Van Eck about the current growth of Bitcoin, and he claimed that he is very positive and supports the growth as it is visible from past growth.

Bitcoin currently has 50 million users, so no other instrument can compete with the growth of Bitcoin as of now.

He is also not expecting any similar instruments on the market in the near future.

Conclusion: 2024 Outlook

He is bullish about the SEC approval of a spot bitcoin ETF, as it will attract more users and more investments in the space. He expects that the SEC will approve all the Bitcoin ETFs at the same time.

Van Eck is also expecting positive and stable growth from the macrocycle, i.e., falling interest rates and bitcoin on-chain bitcoin dynamics. He is also positive about the launch of the VanEck spot Bitcoin ETF under the ticker HODL, which is expected to happen in 2024.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.