VanEck CEO Discusses Low Institutional Participation In European Crypto Market

According to PANews, VanEck CEO Jan van Eck recently discussed the current state of the company's cryptocurrency exchange-traded products (ETPs) in Europe during an interview with CNBC. Van Eck revealed that VanEck currently offers 12 token-based products in the European market, with the total scale of these ETPs reaching 2 billion euros. However, he noted that a significant portion of this investment comes from individual investors, with limited participation from institutional investors. Wealth management firms have not yet allocated resources to these products and have not begun to take action in this space. Van Eck further mentioned that very few private banks have approved investments in major cryptocurrencies like Bitcoin or Ethereum. Additionally, there have been no significant moves regarding other crypto assets. This indicates a cautious approach from institutional players and wealth management companies towards the cryptocurrency market in Europe.