Asset supervisor VanEck filed a fifth amended utility for a spot Bitcoin (BTC) exchange-traded fund (ETF) on Dec. 8.
The VanEck ETF is now expected to be listed under “HODL,” which is a misspelling of “hold” or an acronym for “hold on for dear life.” Bitcoiners use the phrase to describe a strategy of buying and never selling the digital asset.
I like this play…
Retail who knows crypto space will love the ticker.
Boomers will have no idea what it means, so won’t attract negative attention on advisor statements (plus a lot of advisors preach “HODL” in other asset classes anyways).
Good straddle here.
— Nate Geraci (@NateGeraci) December 8, 2023
VanEck’s ticker image for the spot Bitcoin ETF received the eye of analysts on X (previously Twitter). Nate Geraci, president of the advisory agency The ETF Retailer, commented that folks acquainted with crypto will respect the ticker, besides boomers who gained’t perceive it. He stated the ticker would assist keep away from destructive consideration on adviser statements, as many advisers already advocate hodling in several asset courses.
According to Eric Balchunas, a Bloomberg Intelligence senior ETF analyst, the ticker image alternative differs from the “extra boring Boomer-y decisions” different firms like BlackRock and Constancy go for. He urged that the ticker image alternative is a novel method by VanEck.
VanEck itself additionally received in on the enjoyable by posting a touch upon Dec 8:
“My #Bitcoin ETF will carry all the newborn boomers to the yard, *if accredited.”
Associated: Bitcoin new excessive set for late 2024, Binance to lose prime spot — VanEck
A number of firms, together with BlackRock, Constancy, VanEck, Valkyrie and Franklin Templeton, are within the race for an accredited spot Bitcoin ETF. Whereas the SEC hasn’t indicated its assist for the filings, it has engaged in latest discussions with representatives from the applicant companies to deal with technical particulars of their fund proposals.
VanEck anticipates SEC approval for a Bitcoin ETF spot in January and estimates $2.4 billion in inflows in Q1.
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