Bitcoin ETF

Bitcoin

Frenzy

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/vanecks-bitcoin-etf-volume-spikes-in-trading-frenzy">VanEck’s Bitcoin ETF Volume Spikes in Trading Frenzy</a><br></p>
<p style="text-align: justify">The VanEck <a href="https://en.bitcoinhaber.net/anticipating-the-bitcoin-revolution-the-potential-impact-of-an-etf-approval">Bitcoin</a> exchange-traded fund (ETF) recently experienced a rapid escalation in trade volume, a move that has sparked curiosity in the investment community. Senior Bloomberg ETF analyst Eric Balchunas revealed that the fund, known by its ticker HODL, saw its trading volume soar to $258 million on February 20th, marking a fifteenfold increase from its volume just a day prior.</p> 
<h2 id="surge-attributed-to-individual-investors">Surge Attributed to Individual Investors</h2> 
<p style="text-align: justify">Balchunas noted that this spike wasn’t the result of actions by a single large investor. Instead, it came from around 32,000 separate trades, reflecting a sixtyfold rise compared to the norm. He speculated that a social media influencer might have driven the surge, as the number of transactions skyrocketed from 500 to 50,000 within mere days, indicating a potential mass mobilization of retail investors.</p> 
<h2 id="vaneck-s-competitive-fee-reduction">VanEck’s Competitive Fee Reduction</h2> 
<p style="text-align: justify">In a related development, VanEck disclosed to the US Securities and Exchange Commission on February 15th its decision to cut ETF fees from 0.25% to 0.20%, starting February 21st. This undercut the charges of industry titans BlackRock and Fidelity by 5 basis points. Meanwhile, BlackRock’s iShares fund stated it would begin implementing a 0.25% fee on new investments after amassing $5 billion in assets under management as of February 15th.</p> 
<p style="text-align: justify">Not to be left behind, WisdomTree’s Bitcoin Fund (WBTC) also saw a surge in trading volume with an increase to $154 million on February 20th, a move reflecting a nearly 1,200% jump over its average daily volume. Balchunas highlighted that on the same day, WBTC carried out 23,000 transactions, a stark contrast to the mere 221 on February 16th. The rise in activity for both HODL and WBTC funds occurred during a period of high yet not unprecedented volume across leading market funds.</p> 
<p style="text-align: justify">As per Dune Analytics, VanEck’s Bitcoin Trust currently ranks as the seventh-largest spot Bitcoin ETF, with $191.9 million in assets under management. Meanwhile, WisdomTree’s fund, although being the smallest with $29.4 million in AUM, shows significant momentum in the wake of this recent market activity.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/vanecks-bitcoin-etf-volume-spikes-in-trading-frenzy">VanEck’s Bitcoin ETF Volume Spikes in Trading Frenzy</a></h5>

VanEck’s Bitcoin ETF Volume Spikes in Trading Frenzy

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