1 year ago
Asset managers Fidelity and VanEck have unveiled their tickers for their spot Bitcoin (BTC) Exchange-Traded Fund (ETF) applications with the U.S. Securities and Exchange Commission (SEC).
VanEck chooses HODL
VanEck revealed the ticker for its Bitcoin ETF to beryllium “HODL,” according to an updated filing submitted with the SEC.
VanEck’s HODL ticker prime is simply a departure from the norm compared to however respective of its rivals incorporated the “BTC” awesome into theirs. For context, BlackRock and Invesco chose much accepted tickers similar ‘IBTC,’ and ‘BTCO,’ portion Grayscale is expected to support its Bitcoin Trust’s ‘GBTC’ acronym.
HODL is simply a word wide recognized among crypto investors that refers to the strategy of not selling your integer assets, adjacent amid chaotic terms changes successful the market. It is commonly expressed arsenic an acronym for “hold connected for beloved life” and is simply a faux-typo play connected the connection “hold.”
Market observers person suggested that VanEck’s prime could beryllium portion of its effort to basal retired and pull retail investors portion insulating itself from detractors. Nate Geraci, the President of ETF store, said:
“Retail who knows crypto abstraction volition emotion the ticker. Boomers volition person nary thought what it means, truthful won’t pull antagonistic attraction connected advisor statements (plus a batch of advisors preach “HODL” successful different plus classes anyways).”
Meanwhile, a terse connection connected VanEck’s authoritative X grip suggested that the ticker was “for the culture.”
Fidelity’s FBTC ticker
Fidelity’s ticker awesome ‘FBTC’ appeared connected the U.S. Depository Trust and Clearing Corporation (DTCC) website connected Dec. 7, joining a database of different applicants, including BlackRock and Invesco, whose tickers person appeared connected the platform.
Bloomberg elder expert Eric Balchunas described Fidelity’s ticker arsenic “another boring-on-purpose prime aimed astatine the Boomerati.” Fidelity is 1 of the largest plus managers successful the world, with much than $4 trillion successful assets nether management.
The DTCC is simply a salient post-trade colony house, managing trillions of dollars successful regular securities transactions worldwide. However, a DTCC spokesperson antecedently clarified that the beingness of these tickers connected its website doesn’t signify support from the SEC.
The station VanEck embraces crypto civilization with ‘HODL’ ticker for projected Bitcoin ETF appeared archetypal connected CryptoSlate.
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