In 2024, Bitcoin ETFs will be a hit, especially with everyday investors. VanEck’s CEO, Jan van Eck, shared during Paris Blockchain Week that while these ETFs have seen billions flowing in some days, traditional banks and big investors haven’t jumped in yet.
According to van Eck, the current success of Bitcoin ETFs has been driven by regular folks rather than big financial players. Surprisingly, no major U.S. banks have given the green light for their advisors to suggest Bitcoin investments.
Van Eck said, “I was surprised, but I don’t think it’s traditional investors yet. I still think 90% of the flows are retail. You’ve had some Bitcoin whales and some other institutions move some assets in, but they were already exposed to Bitcoin.”
The CEO of the investment management company mentioned that no major U.S. banks have given their financial advisors the green light to recommend Bitcoin yet. He also noted that while there could be significant institutional investments coming in the next month, the Bitcoin ETF landscape is still developing.
When asked why people prefer ETFs over buying Bitcoin directly, VanEck pointed out convenience, safety, and cost-effectiveness. With ETFs, investors can rely on fund managers to handle everything, plus they offer tighter spreads and lower fees compared to some crypto exchanges like Coinbase.
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