VanEck, a Bitcoin ETF issuer, has teamed up with asset management firm Inter Invest launch First ever offer of Bitcoin exposure within French retirement savings plans.
The initiative is being facilitated by VanEck’s VBTC Bitcoin ETF, which was also recently launched. It was launched. On Australia’s leading exchange. With a total value of $407 million, the VBTC ETF aims to provide French Pension Savings Plan (PER) investors with access to digital assets as part of their retirement portfolio.
Integrating Bitcoin ETFs into Retirement Plans
VBTC is designed to be fully collateralized and tracks the MarketVector Bitcoin VWAP Close Index, which measures the performance of a digital asset portfolio invested directly in BTC.
the VBTC ETF The total expense ratio is 1% and provides investors with a structured product to gain exposure to the largest cryptocurrency, similar to the newly approved exchange-traded fund market in the United States, which launched in January after receiving approval from the US Securities and Exchange Commission (SEC).
Martin Rosemüller, CEO of VanEck Europe, reiterated the company’s belief in Bitcoin as a long-term innovative asset. However, he noted that the current situation Volatility The cryptocurrency’s price surge over the past month reflects the typical value-seeking phase of emerging assets.
Bitcoin fell to a six-month low of $53,500 in early July after a failed attempt to retest its all-time high of $73,500 between May and June, resulting in a 25% decline in the price of Bitcoin.
Bitcoin managed to bounce off this low and is trying to consolidate above the $63,700 level, as shown in the daily chart of the BTC/USD pair below.
On the other hand, Jean-Baptiste de Pasquale, Deputy CEO of InterInvest, highlighted the company’s commitment to the “democratization” of innovative financial assets.
Through integration Crypto assets As part of its retirement savings plans, De Pasquale suggested that the company aims to meet the growing market demand for combining retirement savings with diversification into digital assets.
Bitcoin ETFs in the US Surpass $16 Billion
The introduction of Bitcoin ETFs into French pension plans comes on the heels of… consent One of the first cryptocurrency ETFs to list on the London Stock Exchange in Q2, giving professional investors access to this asset class.
However, digital assets still face skepticism, with the European Central Bank referring to the SEC’s approval of Bitcoin ETFs as “the Emperor’s naked new clothes.”
Despite this, recent events Data This shows the continued success of the newly licensed market despite periods of large outflows. On Monday, US Bitcoin ETFs saw a massive net inflow of $301, marking seven consecutive days of net inflows.
Notably, BlackRock’s IBIT and Ark Invest ETFs and 21Shares’ ARKB ETF saw significant net inflows of $117 million. Bloomberg Expert Eric Balchunas male Bitcoin ETFs are on the rise, having crossed the $16 billion milestone so far this year.
Featured image by DALL-E, chart by TradingView.com