Millennials Prefer Bitcoin Over Gold, BTC ETF Demand Exists

During Bloomberg’s “ETF IQ” segment yesterday, a financial advisory head said Bitcoin (BTC) exchange-traded funds (ETF) are preferred over their gold counterparts by millennial investors. Nate Geraci, the head of The ETF Store, an investment advisory group that seemingly specializes in funds, noted that many of their younger clients ask if they can replace a core gold holding, seen as a hedge/non-correlated asset, with one that holds cryptocurrency, namely Bitcoin. In fact, Geraci quipped that 90% of their millennial clients suggested Bitcoin over the precious metal.

The thing is though, there isn’t a regulated product that such prospective investors can allocate capital towards. Just the other day, the SEC revealed that it will be exercising its right to delay its decision on a Bitcoin ETF proposal from VanEck and SolidX. The agency cited concerns such as there being not enough infrastructure to prevent “fraudulent and manipulative acts and practices”. And, the current products ready for retail investors (but not really), like Grayscale’s Trust, is often priced well above the spot market, implying a premium that can hurt investors.

Original source
https://ethereumworldnews.com/millennials-prefer-bitcoin-gold-btc-etf-demand-exists/

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