VanEick makes 5th amendment to identify Bitcoin ETF under ‘HODL’

Asset manager VanEek filed its fifth revised Bitcoin (BTC) exchange-traded fund (ETF) application on December 8.

According to the regulatory database, the revised S-1 form with the United States Securities and Exchange Commission (SEC) reflects VanEick Bitcoin Trust's amendments. Spot Bitcoin ETF is an investment vehicle that allows people to buy shares in a fund that tracks the price of Bitcoin.

The VanEck ETF is now expected to list under “HODL,” which is a misspelling of “hold,” or “hold on for dear life.” Bitcoiners use the phrase to describe a strategy of buying the digital asset and never selling it.

I love this game…

A retailer that knows the crypto space loves Ticker.

Boomers don't know what that means, so they don't attract negative attention to advisor disclosures (and many advisors preach “HODL” in other asset classes).

Nice stick here.

— Nate Geraci (@NateGeraci) December 8, 2023

VanEck's ticker symbol Bitcoin ETF has received attention from analysts at X (formerly Twitter). Nate Gerasi, president of ETF Store Consulting, commented that people who know crypto will appreciate the signal, except for boomers who don't understand it. Since many advisors support honing in various asset classes, the benchmark will help avoid negative attention on advisor disclosures, he said.

According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, the ticker selection differs from the “more boring Boomer-y choices” of other companies like BlackRock and Fidelity. He pointed out that the choice of ticker symbol was a unique approach by VanEyck.

VanEyck himself got in on the fun by posting a comment on December 8th.

“My #Bitcoin ETF will bring all the baby boomers into the backyard, *if* allowed.”

Related: Bitcoin Sets New High for End of 2024, Binance Loses Top Position – VanEck

Several companies are in the race for an approved Bitcoin ETF space, including BlackRock, Fidelity, VanEyck, Valkyrie and Franklin Templeton. While the SEC has not indicated its support for the filings, it has recently held discussions with representatives of these companies to iron out technical details in their fund proposals.

VanEck anticipates SEC approval for the Bitcoin ETF space in January, estimating revenue of $2.4 billion in Q1.

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