April 19, 2024
VanEck Aims for Crypto Dominance in Europe, Reveals Ambitious Growth Plans
Bitcoin ETF

BTC ETF Issuer VanEck Aims for Crypto Dominance in Europe, Reveals Ambitious Growth Plans

VanEck, a renowned asset manager with nearly seven decades of experience in pioneering investment opportunities, is setting its sights on the burgeoning crypto market to drive growth in its European division.

Martijn Rozemuller, CEO of VanEck Europe, revealed in an interview that currently, approximately 10% of the company’s assets under management stem from crypto products, with the remaining 90% attributed to conventional investments through ETFs. However, Rozemuller predicts a significant shift in this balance, with crypto investments becoming more prominent, aiming for a near 50/50 split between traditional and crypto assets.

This ambitious goal reflects the growing confidence in the potential of crypto as an asset class, especially with the recent approval of spot bitcoin ETFs in the United States. For VanEck, venturing into new investment territories is nothing new, having been a pioneer in facilitating American access to international assets in the 1950s and introducing a gold fund in the 1960s.

Rozemuller’s interest in crypto, shared with VanEck CEO Jan Van Eck, played a pivotal role in the company’s expansion into Europe. VanEck’s acquisition of Dutch ETF provider Think ETF Asset Management in 2018 further solidified its presence in the region, with discussions about crypto investments predating the acquisition.

VanEck’s foray into the crypto market began with the launch of one of the ten new U.S.-traded spot bitcoin ETFs in January. Despite being a late entrant compared to its larger rival BlackRock, VanEck had filed for a bitcoin ETF as early as 2017. In Europe, the company introduced the VanEck Crypto and Blockchain Innovators UCITS ETF in 2021, which includes holdings in leading crypto-related companies like Coinbase Global, Block, Marathon Digital, Bitfarms, and MicroStrategy.

Despite the volatility inherent in crypto markets, the VanEck Crypto and Blockchain Innovators UCITS ETF has emerged as one of the top-performing ETFs in VanEck Europe’s portfolio by assets under management. Rozemuller attributes this success to the fund’s appeal to investors looking for a more stable, long-term investment approach rather than chasing short-term gains.

Looking ahead, VanEck Europe aims to solidify its position as a leading issuer of non-mainstream investment products, leveraging its expertise to offer innovative ETFs that cater to diverse investor preferences. Rozemuller emphasizes the company’s commitment to making a positive difference in the market by excelling in both traditional ETFs and crypto-related offerings.

As VanEck charts its course towards a more balanced investment portfolio, its strategic focus on crypto underscores the growing mainstream acceptance and integration of digital assets within the global financial landscape. With VanEck’s extensive experience and commitment to innovation, the company is poised to play a significant role in shaping the future of crypto investments in Europe and beyond.

Image: Wallpapers.com

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