Investment manager VanEck tipped its hat toward retail investors on Friday in a new filing with the Securities and Exchange Commission in which it said its proposed spot bitcoin ETF would use the ticker “HODL,” a common abbreviation in crypto circles for “hold on for dear life.”
“The Shares are expected to be listed for trading, subject to notice of issuance, on the Exchange under the ticker symbol ‘HODL,'” the amended Form S-1 filing stated.
This isn’t the first time a firm has tried a play on words with crypto ETF tickers. Valkyrie has an application for a bitcoin futures ETF with the ticker symbol “BTFD,” which stands for “buy the f****** dip.”
OK Boomer
VanEck’s ticker symbol for the spot bitcoin ETF got the attention of analysts on X.
“I like this play…retail who knows crypto space will love the ticker,” said Nate Geraci, president of The ETF Store, an advisory firm. “Boomers will have no idea what it means, so won’t attract negative attention on advisor statements (plus a lot of advisors preach ‘HODL’ in other asset classes anyways).”
The ticker symbol was a “departure from the more boring Boomer-y choices from BlackRock, Invesco and Fidelity,” said Eric Balchunas, Bloomberg Intelligence senior ETF analyst. “Who knows tho, maybe smart to differentiate here. Plus, VanEck specializes in niche and has [a] solid retail base.”
VanEck itself also got in on the fun.
“My #Bitcoin ETF* will bring all the baby boomers to the yard,” VanEck posted on Friday. “*If it’s approved.”
Multiple firms including BlackRock, Fidelity, VanEck, Franklin Templeton and Valkyrie have been vying for a spot bitcoin ETF. The SEC has not yet approved one but has met recently with representatives from different firms to discuss technical aspects of the fund proposals.
