Asset manager VanEck filed its fifth amended application for a Bitcoin exchange-traded fund (ETF) on December 8 (Bitcoin) spots.
According to this databases The regulator’s amended Form S-1 filed with the US Securities and Exchange Commission (SEC) highlights VanEck Bitcoin Trust’s updates. A Bitcoin spot ETF consists of an investment vehicle that allows you to purchase shares of a fund that tracks the spot price of Bitcoin.
The VanEck ETF is expected to trade under the ticker symbol “HODL,” short for “hold” disruption or “hold on for dear life.” Bitcoin enthusiasts use this phrase to describe the strategy of buying and never selling the digital asset. VanEck’s symbol for the Bitcoin spot ETF caught the attention of analysts at X (formerly Twitter). Nate Geraci, head of advisory at The ETF Store. commented We think people familiar with crypto will be happy with the ticker, except Boomers who don’t understand it. According to Geraci, this sign will also help prevent negative attention on advisors’ statements, given that many of the advisors already support the possibility of investing in different asset classes.

I liked this game…

Retailers who know the crypto space will love the ticker.

Boomers will have no idea what this means, so it won’t draw negative attention to advisor statements (plus many advisors are already preaching “HODL” in other asset classes).

Good ride here.

— Nate Geraci (@NateGeraci) December 8, 2023

The ticker symbol choice differs from the “boring picks for boomers” adopted by other companies such as BlackRock and Fidelity, according to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence. According to him, stock selection represents a unique approach on VanEck’s part.
VanEck also has it joined the discussion A comment is published on December 8:

“My #Bitcoin ETF, *if approved, will get all baby boomers in on the game.”

Several companies, including BlackRock, Fidelity, VanEck, Valkyrie and Franklin Templeton, are vying for approval of a spot Bitcoin ETF. Although the SEC did not support the proposals, it recently began negotiations. company representatives Applicants discuss the technical details of their funding proposals.
VanEck awaits SEC approval for spot Bitcoin ETF in January and An inflow of 2.4 billion dollars is expected In the 1st quarter.

Translation by Walter Rizzo