Major Gold Investor Is Buying Into Bitcoin

VanEck is one of the biggest asset managers in the United States.

The firm opened in 1955. And in 1968, it launched the VanEck International Investors Gold Fund (INIVX), the first U.S. gold fund.

Today, VanEck’s exchange-traded funds (ETFs) have $30 billion in assets under management. That’s more than ETF issuers JPMorgan, Goldman Sachs, and Barclays.

The company offers more than 50 ETFs. And it manages assets for over 400 institutions—including banks, pension funds, and endowments.

Here’s the thing about VanEck…

It specializes in precious metals. Most of its assets are gold investments. And it runs some of the world’s largest gold funds.

But now the company is making the jump into bitcoin.

On August 11, VanEck filed with the U.S. Securities and Exchange Commission (SEC) for the VanEck Vectors Bitcoin Strategy ETF.

The fund would initially invest in bitcoin futures contracts and trade on the Nasdaq.

By Teeka Tiwari, editor, Palm Beach Confidential