Per previous reports from Ethereum World News, mere days ago, investment guru Jan Van Eck, the current chief executive of Bitcoin (BTC) exchange-traded fund hopeful VanEck, took to CNBC to reveal that his firm’s collaborative ETF application was to be withdrawn. In the interview, the Wall Streeter, whose father was the founder of VanEck, explained that the government shutdown (which recently ended) disallowed its representatives from actively conversing with the U.S. Securities and Exchange Commission (SEC). And as such, considering that the SEC still expressed concerns regarding the crypto market’s, such as the lack of liquidity, manipulation, and custody concerns, VanEck, CBOE, and SolidX sought it right to pull their application.
However, what flew under many investors’ radar was that Van Eck drew attention to the fact that investors’ demand for Bitcoin has potentially begun to wane. Speaking on the outlet’s “ETF Edge” segment, the VanEck chief executive remarked that while BTC pulled a “little bit of demand away from gold” in 2017, the tides turned in 2018 and heading into 2019.