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VanEck is collaborating with Inter Invest to integrate Bitcoin into French retirement savings plans. Through VanEck’s VBTC Bitcoin ETF, this initiative marks the first effort to include digital assets in traditional pension funds. The VBTC ETF, valued at USD 407 million, enables French Pension Savings Plan (PER) investors to invest in Bitcoin.
VanEck Lists VBTC ETF on the Australian Exchange
The VBTC ETF, recently listed on Australia’s largest exchange, aims to provide a regulated avenue for Bitcoin investment. It tracks the MarketVector Bitcoin VWAP Close Index, which invests directly in Bitcoin. With a total expense ratio of 1%, the ETF is fully collateralized.
Martijn Rozemuller, CEO of VanEck Europe, highlighted Bitcoin’s potential as a long-term investment instrument. Acknowledging Bitcoin’s price fluctuations as typical for a new asset, Rozemuller stated that this initiative aligns with VanEck’s goal to offer diverse investment products to clients.
Jean-Baptiste de Pascal, Deputy CEO of Inter Invest, emphasized the firm’s mission to make innovative financial assets accessible. By introducing crypto assets into retirement plans, Inter Invest addresses market demand for diversified savings. This follows the listing of the first Crypto ETF on the London Stock Exchange earlier this month.
France Embraces Bitcoin ETFs in Pensions
Bitcoin experienced a sharp decline to $53,500 in the first week of July, its lowest since January 2021. This drop occurred after a failed attempt to reach its all-time high of $73,500 between May and June. Currently, Bitcoin is striving to maintain a level above $63,700.
Rozemuller noted that Bitcoin’s current state reflects its value-seeking phase, suggesting that investors should consider market conditions when investing in digital currencies. Awareness of potential risks and opportunities is crucial.
The inclusion of Bitcoin ETFs in French pension plans indicates the country’s acceptance of digital assets, despite criticism. The European Central Bank (ECB) has referred to Bitcoin ETFs as the emperor’s new clothes. Nevertheless, Bitcoin ETFs continue to thrive in the market.
Bitcoin ETF Inflows Reach $16 Billion
US Bitcoin ETFs have recently seen significant net inflows, reflecting growing investor demand. On Monday, US-based Bitcoin ETFs recorded an inflow of $301 million for the seventh consecutive day. This trend indicates increasing adoption of digital assets by individuals and companies.
BlackRock’s IBIT, Ark Invest’s ARKB, and 21Shares’ ARKB ETFs have shown substantial net inflows. Bloomberg expert Eric Balchunas noted that Bitcoin ETFs have had inflows totaling $16 billion this year, indicating rising confidence in Bitcoin as an investment.
VanEck and Inter Invest Launch VBTC ETF
The VBTC ETF’s inclusion in French retirement plans is a significant milestone, providing investors with a legal means of investing in Bitcoin. This development could pave the way for the integration of digital assets in retirement portfolios globally.
The partnership between VanEck and Inter Invest showcases the potential for new financial tools. By meeting market needs and offering regulated investment products, these companies set a precedent for other asset managers to explore similar opportunities.
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