VanEck’s Bitcoin ETF Records 2,200% Volume Surge in a Day
A sudden trading volume on VanEck’s HODL product seemed “retail armyish,” one analyst said.
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A sudden trading volume on VanEck’s HODL product seemed “retail armyish,” one analyst said.
Bloomberg exchange-traded funds analyst Eric Balchunas noted a particular uptick in volume for HODL and BTCW.
Several traditional financial firms are vying for an ether exchange-traded fund in the U.S., a move that is boosting the token’s medium-term outlook.
Excluding Grayscale’s Bitcoin Trust, the bitcoin exchange-traded funds have accumulated over $11 billion worth of BTC a month after going live.
Spot bitcoin ETFs have amassed more than 192,000 bitcoin in holdings, as of Friday, since their launch nearly a month ago.
A decision for approving or denying a joint Ether ETF product has been pushed back, in line with analyst expectations.
GBTC has led bitcoin ETF volumes, mostly in outflows, since the products started trading in early January.
The British bank predicts that the SEC will eventually treat spot ether ETF applications similarly to bitcoin ETFs, putting May 23 as the expected date for an approval.
Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox.
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