VanEck, a major asset management firm with over $113 billion in assets, plans to establish a Bitcoin investment fund in Vietnam. CEO Jan van Eck met with the State Securities Commission (SSC) to discuss digital assets. He suggested that Vietnam should adopt a cautious, step-by-step approach to managing this market.
VanEck aims to partner with SSI Securities, led by Chairman Nguyen Duy Hung, to create the Bitcoin fund. Jan van Eck also met with Deputy Minister of Foreign Affairs Nguyen Minh Vu to share international experiences and strategies for developing Vietnam’s digital asset market.
During discussions, Jan van Eck highlighted VanEck’s role in the growing trend of exchange-traded funds (ETFs). The company is known for pioneering cryptocurrency ETFs, including those for Bitcoin and Ether. He expressed hope for increased high-level visits between the US and Vietnam, which could lead to advancements in this sector.
Jan van Eck noted that Vietnam is on the brink of embracing blockchain technology and digital assets. He mentioned that recent positive changes in the US government’s stance on cryptocurrency could facilitate collaboration between the two countries in developing a suitable legal framework.
Deputy Minister Nguyen Minh Vu praised VanEck’s involvement in building Vietnam’s digital asset market. He acknowledged the existing bilateral ties between the US and Vietnam in government and business sectors. The Deputy Minister promised to relay Jan van Eck’s insights to relevant agencies to enhance cooperation.
Vietnam is actively working to establish a legal framework for digital assets, including crypto. The Prime Minister has instructed the Ministry of Finance to prepare a pilot resolution for managing digital assets. This resolution aims to allow the operation of a crypto exchange, providing a legal platform for investors.
The Ministry of Finance plans to license exchanges and create regulations for Vietnamese companies to issue digital assets. Founded 70 years ago, VanEck is recognized for its innovative investment strategies and currently manages a Bitcoin ETF, the VanEck Bitcoin Trust ETF, which holds approximately 14,020.9 BTC valued at around $1.19 billion.
