VanEck Updates Spot Bitcoin ETF Application: Details of the Update!

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• On Friday, investment management company VanEck submitted an updated application for a spot Bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC).
• Gabor Gurbacs, a VanEck advisor, stated on the X platform: “The best ticker in the Bitcoin ETF race has just been revealed: HODL.”
• Bloomberg ETF analyst James Seyffart mentioned that VanEck is attempting to launch a Bitcoin ETF, and this is their fifth amendment.

Investment management company VanEck made its 5th update on its spot bitcoin ETF application: What detail stands out in this update?

VanEck Updates Spot Bitcoin ETF Application

Investment management firm VanEck has made its fifth update to the application for a spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) on Friday. VanEck’s spot Bitcoin ETF will trade under the ticker symbol ‘HODL’ on the exchange. Now, all eyes are on the SEC as the January deadline approaches.

Asset management company VanEck updated its application for a spot Bitcoin ETF according to an S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC) on December 8. The spot Bitcoin ETF will be listed under the trading symbol HODL.

Gabor Gurbacs, an advisor at VanEck, stated on the X platform: “The best ticker in the Bitcoin ETF race has just been revealed: HODL.” Expressing excitement about this development, Gurbacs suggests that positive communications with the SEC signal the potential approval next year.

Bloomberg ETF analyst James Seyffart mentioned that VanEck is attempting to launch a Bitcoin ETF, and this is their fifth amendment. In the latest update on October 29, VanEck highlighted its plans to launch the spot BTC ETF with funds physically positioned in BTC.

VanEck’s Bitcoin ETF Predictions

VanEck executives are confident that the SEC will approve a spot Bitcoin ETF in January. The company predicts a $2.4 billion Bitcoin ETF in the first quarter and forecasts that the BTC price will reach $100,000 by 2024. This prediction is slightly lower than Galaxy Research’s estimate for a spot Bitcoin ETF entry, opening up to $14 billion in the first year.

If the SEC approves a spot Bitcoin ETF on January 8, ETF experts Eric Balchunas and Scott Johnsson claim that investors could start trading the spot Bitcoin ETF within a week or at most two months.