VanEck’s spot bitcoin ETF volume skyrockets over 1000% day before lower fee comes into effect | Headlines | News | CoinMarketCap
02/21/2024 03:01
Less than a week after VanEck filed a notice saying it would be lowering the fee it charges on its spot bitcoin ETF, the investment manager's fund …
The Block18 minutes ago
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Published on February 20, 2024 19:43 GMT+00:00edited on February 20, 2024 19:44 GMT+00:00
Less than a week after VanEck filed a notice saying it would be lowering the fee it charges on its spot bitcoin ETF, the investment manager's fund experience a massive spike in trading volume.
On Tuesday, VanEck's spot bitcoin ETF surpassed $300 million in trading volume as of 1:50 p.m. ET, more than ten times what it traded on its best day so far. When VanEck's crypto-based ETF launched on January 11 it hit its previous high of daily trading volume when it registered $25.5 million, according to Yahoo Finance data compiled by The Block.
Bloomberg senior ETF analyst Eric Balchunas took to X to express his surprise for how well the fund was performing. VanEck's ETF "is going wild today with $258 million in volume already, a 14x jump over its daily average, " he posted. "And it's not …