VanEck predicts significant growth in the cryptocurrency market by 2025, with Bitcoin potentially reaching $180,000 and Ethereum over $6,000. The U.S. is expected to lead in Bitcoin adoption, and the tokenized securities market could exceed $50 billion. Stablecoins are anticipated to play a major role in global commerce, while AI agents and Bitcoin Layer-2 solutions are set to transform DeFi. Ethereum's role as a settlement layer is expected to expand, and the NFT market is projected to recover.
Jan van Eck, CEO of VanEck, predicts Bitcoin will reach $150,000 to $180,000 this cycle, dismissing the possibility of $400,000 until the next cycle. He highlights the US fiscal deficit as a major concern and discusses two fiscal policy approaches in Washington. Van Eck also comments on geopolitical tensions and the importance of regulatory environments for Bitcoin's growth. He notes Bitcoin's high correlation with the NASDAQ as a concern but remains optimistic about its future maturation and investment potential.
Bitcoin is nearing the $100,000 mark, driven by supportive US political changes under President Trump, including potential regulatory reforms and a national Bitcoin reserve proposal. VanEck predicts Bitcoin could reach $180,000, citing strong institutional demand and favorable economic conditions. While analysts warn of potential market overheating, the long-term outlook remains optimistic due to solid on-chain metrics and regulatory support.
VanEck CEO Jan Van Eck predicts Bitcoin's price could reach $300,000, equating to half the market cap of gold, as he believes BTC will hit new all-time highs. He also sees Ethereum as a major winner in the rise of stablecoins as a global payment system, suggesting it's a good entry point for investors. Bitcoin and Ethereum are currently trading at $81,236 and $3,202, respectively.
Bitcoin fluctuates around $71,000 following a recent rally, while Robinhood acquires Bitstamp for $200 million to expand its crypto business. VanEck predicts ether could reach $22,000 by 2030 due to Ethereum's disruptive potential. Standard Chartered links BTC's price to the chances of a Trump victory in the upcoming U.S. presidential election.
VanEck's Bitcoin ETF, HODL, experienced a 2,200% surge in trading volumes, reaching over $400 million on Tuesday, ahead of a planned fee reduction. The ETF now holds nearly $200 million worth of bitcoin and ranks third in daily volume behind Grayscale’s GBTC and BlockRock’s IBIT. The surge in trading volumes, driven by individual traders, suggests signs of a retail mania, with Bloomberg Intelligence analyst Eric Balchunas speculating that the increase may be influenced by social media recommendations.
VanEck settles with the SEC, agreeing to pay a $1.75 million civil penalty for failing to disclose a social media influencer's involvement in the launch of its Social Sentiment ETF. The influencer's compensation structure linked to the fund's size was not disclosed, limiting the board's ability to evaluate the economic impact. VanEck also announced a fee reduction for its new spot Bitcoin ETF, HODL, amidst intensifying competition in the Bitcoin ETF market, with significant investor interest and steady inflows, particularly in BlackRock's IBIT.
VanEck's Head of Digital Assets Research, Mathew Sigel, stated that big financial institutions' interest in Bitcoin is growing, with more clients expressing interest in Bitcoin ETFs. The performance of Bitcoin spot ETFs has been successful, with several accumulating over $1 billion in assets. Despite fierce competition among ETF issuers, Sigel believes that the current fees are competitive and should not hinder further adoption. The price of Bitcoin is currently at $52,480, the highest level since late 2021, indicating increasing interest and potential for further adoption by institutional investors.
BlackRock and VanEck, two of the 13 firms seeking to launch bitcoin exchange-traded funds (ETFs) in the U.S., have filed updated documents following quick responses from the U.S. Securities and Exchange Commission (SEC). The filings show an unprecedented level of engagement between the SEC and prospective issuers, with changes aimed at addressing shareholder protection and conflicts of interest. The SEC is expected to approve all applications this week ahead of a January 10 deadline, potentially approving them together for fairness.
Grayscale, VanEck, and ARK have registered their Bitcoin ETFs to trade on various exchanges, with Grayscale aiming for NYSE Arca, VanEck for Cboe, and ARK in partnership with 21Shares also for Cboe. These registrations are a step forward, but the SEC's approval is still pending. The industry is highly anticipative of a potential SEC green light, which would allow U.S. investors to gain Bitcoin exposure through ETFs. Despite a recent Bitcoin price drop due to speculation over SEC rejections, the price has since recovered. The SEC has been in talks with exchanges, possibly preparing for Bitcoin ETF listings.
Asset manager Valkyrie has received approval to convert its existing bitcoin futures ETF into a two-for-one investment vehicle, allowing it to start buying Ether (ETH) futures contracts. This makes Valkyrie the first US ETF to offer exposure to both Ether and Bitcoin futures contracts. The fund's new strategy will be effective on October 3, with the name changing to Valkyrie Bitcoin and Ether Strategy ETF. Meanwhile, VanEck, another asset management firm, has announced its plans to launch an Ethereum futures ETF.
The SEC is considering applications for spot crypto ETFs from Franklin Templeton and Hashdex, while delaying decisions on VanEck's and ARK's ether ETFs. The SEC has a maximum of 240 days to approve or deny an ETF, with a decision date for these proposed funds expected in late May 2024. The Commission frequently delays decisions and may extend deadlines due to a potential federal government shutdown. In August, a federal appeals court ruled that the SEC must reevaluate its rejection of Grayscale Investments' bid to convert its Grayscale Bitcoin Trust into an ETF.
Fidelity, VanEck, Invesco, and other financial giants have made amendments to their filings for Bitcoin Spot ETFs following a warning from the US Securities and Exchange Commission (SEC) that recent filings were "inadequate." The SEC has previously rejected Spot Bitcoin ETF applications due to concerns about investor protection from market manipulation. The amended filings now include Coinbase as the custodian of the funds and provider of market surveillance. However, the SEC has its own legal issues with Coinbase, as it has sued the exchange for selling unregistered securities.
