VanEck chief predicts "slow and steady progress" for crypto in 2019

17 Jan, 2019 | Updated: 17 Jan, 2019
by David Robb
VanEck chief predicts slow and steady progress for crypto in 2019

In a recent interview with NASDAQ's Trade Talks show, one of the directors of VanEck gave his thoughts on the upcoming year in crypto. Gabor Gurbacs believes that progress will be "slow and steady" in 2019.

VanEck is an investment firm, most familiar to those in the crypto space due to its proposal for a Bitcoin ETF. Developed with blockchain company SolidX, it is widely believed to be the strongest of the ETF contenders. After a number of delays, the Securities and Exchange Comission (SEC) will make a decision on whether to approve this fund at the end of February.

Gurbacs, who is the director of digital asset strategies, sees progress being made this year as crypto overcomes a number of key barriers to institutional adoption. Surveillance is one of the most important, as he claims that conventional investors want as little risk as possible. The market should also grow more robust and less subject to volatility in terms of valuation.

Institutional finance wants to invest conveniently, in systems that it is used to, and this will be made easier in 2019. Gurbacs believes that the crypto market will see an increase in mergers and acquisitions, allowing firms to scale and offer services with a wider range of appeal to investors. The industry's first IPO is also likely to happen, as larger entities are formed.

Gurbas also points out that MasterCard is considering rebranding that will de-emphasise the 'card' part of its name, suggesting that the biggest players in the industry are aware of the need to move away from physical products. This could bode well for the future of digital assets and tokens in terms of adoption by merchants and payment providers.

Read more: Why hasn't the SEC approved a Bitcoin ETF yet?What exactly is a Bitcoin future, and what will they mean for crypto?

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Read more about: Nasdaq Bitcoin (BTC)


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