Van Eck: Crypto Investors Return to Gold as SolidX BTC ETF Withdrawn144

Jan Van Eck, CEO of Van Eck Associates, told CNBC’s ETF Edge that he believes many investors who sold gold for Bitcoin during its climb to $20,000 are now returning to precious metals. His reasoning: the CBOE’s withdrawal of the Van Eck SolidX Bitcoin ETC on Jan. 23rd.

Interest in cryptocurrencies has slumped in line with the ongoing bear market. January of last year a bitcoin was trading for $13,500. Now, a single coin commands less than $3,500—a 74 percent drop.

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