VanEck Plans To Offer Bitcoin ETF In Europe

Asset manager VanEck plans to offer its popular Bitcoin (BTC) exchange-traded fund (ETF) in Europe as it sees cryptocurrencies playing a bigger role in its future strategy.

Martijn Rozemuller, the head of VanEck Europe, has said in interviews that he expects half of all the assets under management at the company to come from cryptocurrencies in the future.

Currently, VanEck offers a “Crypto and Blockchain Innovators” ETF in Europe, which is comprised of stocks such as Coinbase (COIN), Block (SQ), and MicroStrategy (MSTR), among others.

However, the company is hoping to bring its popular Bitcoin Trust ETF (HODL) to European investors, pending regulatory approval.

Currently, 10% of VanEck’s assets under management come from cryptocurrency products and 90% from conventional investments such as stocks and bonds.

However, given its growth potential, Rozemuller says he sees crypto eventually becoming the dominant investment vehicle at VanEck.

VanEck has traditionally been a pioneer when it comes to new investment vehicles. The company was the first to let Americans buy international assets in the 1950s and created one of the first gold funds in the 1960s.

VanEck introduced one of a dozen new U.S.-based spot Bitcoin ETFs in January of this year after securing regulatory approval from the Securities and Exchange Commission (SEC).

VanEck Europe launched its “Crypto and Blockchain Innovators” ETF in 2021. The fund is currently among the top 15 performing ETFs in VanEck Europe’s portfolio.

Currently, spot Bitcoin ETFs that track the price of the largest cryptocurrency by market capitalization are not allowed in Europe, though regulators are reviewing the products.

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