Investment manager VanEck said in a new filing with the Securities and Exchange Commission on Friday that its proposed spot Bitcoin ETF will use the ticker “HODL,” a common acronym for “hold on for dear” in cryptocurrency circles. Life.”
“The shares are expected to be listed on the exchange under the ticker symbol ‘HODL’ pursuant to the notice of issuance,” the amended Form S-1 filing states.
This isn’t the first time the company has attempted a pun with its cryptocurrency ETF ticker. Valkyrie has subscribed to a Bitcoin futures ETF with the ticker symbol “BTFD,” which stands for “buy the f****** dip.”
Okay boomer
VanEck’s ticker symbol for the spot Bitcoin ETF has caught the attention of X analysts.
“I like this play. Retailers who know the cryptocurrency space will love the ticker.” said nate Gerasi, President of advisory firm The ETF Store. “Boomers won’t draw negative attention to their advisors’ explanations because they have no idea what that means (and many advisors preach ‘HODL’ in other asset classes anyway).”
The ticker symbol was “a departure from the more boring Boomer choices of BlackRock, Invesco, and Fidelity.” said Eric Balchunas, Senior ETF Analyst, Bloomberg Intelligence. “Who knows? It might be wise to differentiate here. VanEck also specializes in a niche market and has a strong retail base.”
VanEck himself had some fun, too.
“My #Bitcoin ETF* will bring every baby boomer into the yard.” VanEck Posted On Friday. “*If approved.”
Several companies including BlackRock, Fidelity, VanEck, Franklin Templeton, and Valkyrie vying For spot Bitcoin ETFs. The SEC has not yet approved it, but recently met with representatives from several companies to discuss technical aspects of the fund’s proposal.
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