Asset manager VanEck files fifth amended application for spot bitcoin (B T c) exchange-traded fund (ETF) on December 8.
According In the regulator’s database, the amended filing in the S-1 form with the United States Securities and Exchange Commission (SEC) highlights the update from VanEck Bitcoin Trust. Spot Bitcoin ETF is an investment vehicle that lets people buy shares in a fund that tracks the price of Bitcoin.
The VanEck ETF is now expected to be listed under “HODL”, which is a misspelling of “hold” or short for “hold on for dear life.” Bitcoiners use this phrase to describe the strategy of buying digital assets and never selling them.
I like this drama…
Retail who know the crypto space will love the ticker.
Boomers won’t know what it means, so they won’t draw negative attention to advisor statements (plus a lot of advisors preach “HODL” in other asset classes anyway).
Nice walk here.
– Nate Geraci (@NateGeraci) 8 December 2023
VanEck’s ticker symbol for the spot Bitcoin ETF caught the attention of analysts on X (formerly Twitter). Nate Geraci, president of advisory firm The ETF Store, commented Those familiar with crypto will appreciate the ticker, except for boomers who won’t understand it. He said the ticker would help avoid negative attention to advisor statements, as many advisors already advocate for stakes in different asset classes.
According The choice of ticker symbol differs from the “more boring boomer-y choices” adopted by other companies like BlackRock and Fidelity, according to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence. He suggested that the choice of ticker symbol is a unique approach by VanEck.
VanEck himself joined in the fun Entry A comment on December 8th:
“My #Bitcoin ETF will bring all the baby boomers into the yard, *if approved.”
Many companies, including BlackRock, Fidelity, VanEck, Valkyrie, and Franklin Templeton. Approved Spots Are in the Race for a Bitcoin ETF, Although the SEC has not indicated its support for the filing, it has Engaged in recent discussions with representatives To address technical details from applicant firms in their fund proposals.
VanEck expects SEC approval for Bitcoin ETF spot in January Inflows estimated at $2.4 billion in Q1,