Bitcoin

Spot

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<ul class="news-points"> 
 <li>VanEck’s BTC ETF, HODL, witnessed a 14-fold increase in trading volume on Tuesday.</li> 
 <li>The surge shocked Eric Balchunas, a prominent analyst at Bloomberg Intelligence.&nbsp;</li> 
 <li>WisdomTree’s BTC ETF, BTCW, also experienced a 12-fold surge in trading volume.</li> 
</ul> 
The trading volume of the spot Bitcoin exchange-traded fund (ETF) offered by leading asset management firm VanEck (HODL), exploded on Tuesday, shocking senior Bloomberg ETF analyst, Eric Balchunas.&nbsp; 
As pointed out by Balchunas in a <a href="https://twitter.com/EricBalchunas/status/1759985608989032736" target="_blank" rel="nofollow">post</a> on social media platform X, VanEck’s spot BTC ETF witnessed close to $250 million in volume by midday in New York. The analyst was shocked as this volume was reportedly 14 times the ETF’s daily average.&nbsp; 
It is important to note that the spike in trading volume was unlikely to be caused by one investor but around 32,000 individual trades in one day, which is 60 times the ETF’s average, noted Balchunas. A puzzled Balchunas was unable to explain the sudden surge in trading volume and <a href="https://twitter.com/EricBalchunas/status/1759990104339226806" target="_blank" rel="nofollow">added</a>:&nbsp; 
<blockquote class="wp-block-quote"> 
 Typically when the daily volume is greater than an ETF’s total assets (as in this case), it means one big creation, a la DYNF getting put in BLK models earlier this year. I’ve never …
</blockquote>
The post <a href="https://coinedition.com/vanecks-spot-btc-etf-witnesses-a-14x-surge-in-trading-volume/">VanEck’s Spot BTC ETF Witnesses a 14x Surge in Trading Volume</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

VanEck’s Spot BTC ETF Witnesses a 14x Surge in Trading Volume

Coin Edition

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