VanEck Changes Form and Announces Ticker for Its ETF:
- VanEck chooses ‘HODL’ as the ticker for its Bitcoin spot ETF.
- ‘HODL’ reflects a specific language in the crypto world, representing a long-term buying and holding strategy.
- This strategy aims to attract attention and stand out in the sector.
VanEck’s Wink to Crypto Investors
In a recent amendment to its S-1 form, VanEck revealed that the symbol for its proposed Bitcoin spot ETF with the SEC would be ‘HODL’.
‘The shares are expected to be listed for trading, subject to notice of issuance, on the Exchange under the symbol ‘HODL”
– states the filing
This term is well-known in crypto circles, symbolizing a strategy of buying and holding assets for the long term, with the acronym standing for ‘hold on for dear life’.
This decision represents a rather playful approach towards retail investors, reflecting the culture and specific language of the cryptocurrency world.
A Bold Brand Strategy
This initiative is part of a broader trend where companies seek to differentiate themselves with original crypto ETF tickers.
For example, Valkyrie proposed the ticker ‘BTFD’ for its Bitcoin futures ETF, which is an argot acronym meaning ‘buy the f**** dip’.
According to Nate Geraci, President of The ETF Store, VanEck’s choice of ticker will be appreciated by users familiar with the crypto world, while avoiding negative attention from less informed investors, such as baby boomers.
‘Baby boomers will have no idea what it means, and thus won’t draw negative attention to advisors’ statements (and anyways, many advisors preach ‘HODL’ in other asset classes).’
stated Nate Geraci
Eric Balchunas, Senior Analyst at Bloomberg Intelligence, sees this decision as an effective way to differentiate from more traditional choices made by companies like BlackRock, Invesco, and Fidelity.
