Major asset manager VanEck is betting big on Bitcoin with its latest regulatory filing to launch a spot bitcoin exchange-traded fund (ETF). And the company is also showing its familiarity with crypto culture by choosing “HODL” as the ticker symbol for the proposed fund.
Keypoints
- VanEck has chosen “HODL” as the ticker symbol for its potential Bitcoin ETF
- HODL is a popular mantra in crypto that is a misspelling of “Hold”
- VanEck first applied for a Bitcoin ETF in 2018 but has faced denials from the SEC so far
- Analysts believe the SEC could finally approve a Bitcoin ETF in early 2024
- Rival firm Fidelity chose a more conservative “FBTC” ticker for its proposed Bitcoin ETF
The filing with the Securities and Exchange Commission (SEC) reveals that VanEck has opted for the popular crypto community slogan “HODL” which stands for “hold on for dear life.” Rather than selecting a more conservative ticker…
