Friday, March 29, 2024
HomemarketsInvestment firm VanEck calls bitcoin a 'fad,' then files for bitcoin ETF

Investment firm VanEck calls bitcoin a ‘fad,’ then files for bitcoin ETF

  • A leading manager of gold-related investment funds filed Friday with the U.S. Securities and Exchange Commission for an exchange-traded fund to invest in bitcoin derivatives.
  • A day before, VanEck published a blog post that said the firm did not believe digital currencies will ever replace gold.
  • VanEck told CNBC in a statement the post makes a "great case for gold relative to bitcoin as a currency and store of value" but digital assets are an "investable asset class in their own right."

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