According to Van Eck’s CEO, crypto is getting a “close to perfect setup” right now.
Van Eck predicts a “very exciting spring” for crypto investors due to the possible coincidence of politically driven rate reduction with the bitcoin “halvening” and likely spot bitcoin ETF debuts.
According to an interview on the Empire podcast (Spotify/Apple), Van Eck’s CEO is not a “mind reader” when it comes to predicting when spot bitcoin ETF permits would be granted. A month ago, however, he saw “movement at the [US Securities and Exchange Commission], where there was virtually no movement.”
Van Eck suggests that spot bitcoin ETF applications might follow the SEC’s lead in approving ether futures ETFs. “The SEC said, ‘Listen, we don’t want to cause anyone trouble or give anyone an unfair edge.'”
As Van Eck says, the SEC told those applying for ether futures ETFs, “we’re going to do our best to get you all to market on the same day.”
Indeed, they fulfilled it. That has never occurred before in the history of exchange-traded funds. “I think that Bitcoin is on their mind in a similar way”, he adds.
Van Eck argues that the significance of the SEC’s decision to allow spot bitcoin ETFs is “more symbolic than anything else,” adding, “it’s significant since everyone thinks it’s important.”
He claims that the whole world is watching the SEC’s decision on this matter. At the same time, he insists that “it’s going to be a great product as well.” “They trade at very small rates for spot bitcoin in Canada, Brazil, and Europe.”
According to him, “the major dock exchanges across the world have very hardened infrastructure,” which means that you can trade a regulated commodity with a high degree of safety and reliability. When opposed to futures-based products, Van Eck claims that spot ETFs provide an additional benefit: they are “super tax efficient” for Americans.
He claims that bitcoin has joined the ranks of platinum and silver as a viable substitute for the desire for gold. You’re in an almost ideal position to make a profit on this transaction.
Federal Reserve shifting course or even winding down its current program. All the slicing in half is yours. The market has been liquidated, and there are additional factors that might go wrong.
Van Eck speculates that the FTX bankruptcy would result in the liquidation of the company’s portfolio, saying, “I just can’t imagine who else there is to sell.”
His claim is backed up by data showing a rise in on-chain and centralized financing sales of bitcoin and other currencies.
What Van Eck doesn’t understand is why the market doesn’t always “price it in.” This is a puzzle of the global financial system. he continues, “halving always results in a bull market.” “Why do no one see this coming?”
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