VanEck, an ETF and mutual fund manager, on Friday has submitted an updated spot Bitcoin exchange-traded fund (ETF) filing with the U.S. Securities and Exchange Commission (SEC). VanEck spot Bitcoin ETF will be listed for trading on the exchange under the ticker symbol ‘HODL.’ Now all eyes are on the SEC as the January deadline looms.

VanEck Updates Its Spot Bitcoin ETF Filing

Asset management firm VanEck has updated its spot Bitcoin ETF, VanEck Bitcoin Trust, according to an S-1 filing with the U.S. Securities and Exchange Commission (SEC) on December 8. The spot Bitcoin ETF will be listed with the ticker HODL.

VanEck advisor Gabor Gurbacs took to X, saying “The best ticker in the Bitcoin ETF race just dropped: HODL”. He is excited about this development as constructive discussions with the SEC indicate an approval coming next year.

Bloomberg ETF analyst James Seyffart said VanEck has been trying to launch a Bitcoin ETF for so many years that “it’s amendment number 5 for them.”

In the last update on October 29, VanEck highlighted its plans to seed the spot BTC ETF with funds domiciled in physical BTC.

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VanEck Predictions on Bitcoin ETF

VanEck executives are confident about the approval of a spot Bitcoin ETF by the SEC in January. The company predicts $2.4 billion in Bitcoin ETF in the first quarter and BTC price hitting $100,000 in 2024. This is marginally lower than Galaxy Research’s prediction on spot Bitcoin ETF inflow, explaining up to $14 billion in inflows during the first year of its launch.

If the SEC approves a spot Bitcoin ETF on January 8, ETF experts Eric Balchunas and Scott Johnsson assert investors will be able to trade spot Bitcoin ETF after a week or two months maximum timeframe.

Also Read: Bitcoin Price Can Hit $50,000 Next Week, Predicts Popular Crypto Analysts

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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