HODL

Bitcoin ETF

Bitcoin

<p><strong>The crypto market witnessed another frenzy this Tuesday, as trading volumes for the VanEck Bitcoin ETF (HODL) surged by over 2200% in a single day. Propelling HODL to the third most traded ETF rank, behind Grayscale’s GBTC and BlackRock’s IBIT.</strong><em>&nbsp;</em></p>
<h2 id="h-a-massive-influx-of-retail-traders-leads-to-a-volume-explosion">A Massive Influx of Retail Traders Leads to a Volume Explosion</h2>
<p>According to data, HODL traded over $400 million in volume on Tuesday, which is 22 times its <a href="https://www.cointribune.com/en/bitcoin-etf-daily-volume-exceeds-2-billion/" target="_blank" rel="noopener noreferrer nofollow">average daily volume</a> of $17 million. This sudden surge seems to have been driven by an army of small retail traders, rather than by a large institutional investor.</p>
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<p>While the exact source remains unknown, it appears that a popular crypto influencer may have spotlighted HODL to their fan base, thereby triggering a rush to the Bitcoin ETF. It would not be the first time that such a buying frenzy is triggered on social media.</p>
<h2 id="h-vaneck-s-fee-reduction-fuels-trader-interest">VanEck’s Fee Reduction Fuels Trader Interest&nbsp;</h2>
<p>This surge in volume comes just before <a href="https://www.vaneck.com/fr/fr/investissements/crypto-etf/" target="_blank" rel="noopener noreferrer nofollow">VanEck</a> reduces its fees on HODL, going from 0.25% to 0.20% starting this Wednesday. This cost reduction has likely boosted the interest of retail traders in the Bitcoin ETF.</p>
<p>The combination of viral recommendation and fee reduction seems to have created the perfect storm for triggering a buying frenzy. Small crypto traders have rushed to buy shares of HODL before the lower fees take effect.</p>
<p>This surge in volume has propelled Bitcoin ETFs as a whole to their highest level of daily transactions since their launch in January.&nbsp;</p>
<h2 id="h-bitcoin-fervor-is-back"><strong>&nbsp;</strong>Bitcoin Fervor is Back</h2>
<p>This episode is eerily reminiscent of the 2017 bull run frenzy, when Bitcoin reached its all-time high of nearly $20,000. Although prices are currently far from those peaks, the speculative excitement around Bitcoin seems to be back.</p>
<p>If this explosive interest in Bitcoin ETFs continues, it could signal the beginning of a new bullish run. More and more individual investors are being drawn by the potential for rapid wealth creation offered by this crypto.</p>
<p>It remains to be seen whether this sudden surge in volumes on HODL is just an isolated flash in the pan, or a precursor sign of mass adoption of Bitcoin. For now, the crypto market is holding its breath.</p>
<p>This mysterious spike in volumes on the VanEck Bitcoin ETF illustrates just how sensitive the Bitcoin market remains to speculation and crowd behavior. Is a viral recommendation and a <a href="https://www.cointribune.com/en/crypto-stablecoins-and-defi-will-explode-thanks-to-the-feds-reductions/" target="_blank" rel="noopener noreferrer nofollow">fee reduction</a> enough to set off a crypto buying frenzy?&nbsp;</p>
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VanEck’s Bitcoin ETF explodes by 2200%! BlackRock in panic!

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