Investment firm VanEck calls bitcoin a 'fad,' then files for bitcoin ETF
A leading manager of gold-related investment funds filed Friday with the U.S. Securities and Exchange Commission for an exchange-traded fund to invest in bitcoin derivatives.
A day before, VanEck published a blog post that said the firm did not believe digital currencies will ever replace gold.
VanEck told CNBC in a statement the post makes a "great case for gold relative to bitcoin as a currency and store of value" but digital assets are an "investable asset class in their own right."