The U.S. Securities and Exchange Commission (SEC) received an S-1 filing from asset management company VanEck on December 8, which updated its spot Bitcoin ETF, VanEck Bitcoin Trust. HODL will be the ticker used on the spot Bitcoin ETF listing.
“The best ticker in the Bitcoin ETF race just dropped: HODL,” VanEck advisor Gabor Gurbacs posted on X. This development excites him because positive talks with the SEC suggest that approval will occur in the upcoming year.
VanEck announced in its most recent update on October 29 that it intended to seed the spot Bitcoin ETF with money held in actual Bitcoin.
Administrators at VanEck are optimistic that the SEC will approve a spot Bitcoin ETF in January. The company projects that in the first quarter, Bitcoin ETFs will trade for $2.4 billion and that in 2024, the price of BTC will reach $100,000.
Investors should be able to trade spot Bitcoin ETF within a maximum of two months or a week if the SEC approves a spot Bitcoin ETF on January 8, according to ETF experts Eric Balchunas and Scott Johnsson.
Also Read: Grayscale Bitcoin Trust Eyes Potential Transition to Bitcoin ETF
