VanEck and WisdomTree’s Bitcoin ETFs saw significant trading volume upticks out of the blue, with analysts at a loss for why it happened.
VanEck’s spot Bitcoin (BTC) exchange-traded fund (ETF) has experienced a sudden and drastic trading volume uptick, leaving market commentators looking for the reason why.
VanEck’s fund — which sports the ticker “HODL” — saw $258 million in trading volume on Feb. 20, a nearly 15 times increase in volume from the previous day, according to data shared to X by senior Bloomberg ETF analyst Eric Balchunas.
WBTC saw 23,000 individual trades go through on Feb. 20, a significant increase from a “mere 221 trades on Friday,” added Balchunas.
