VanEck’s Bitcoin ETF notches 1,400% daily trading volume increase
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 
$51,783
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.
VanEck’s sudden volume spike was from an influx of around 32,000 individual trades — which Balchunas noted was 60 times its average — and not from a single large investor, which he said “would make sense.”
“Still haven’t figured out what happened,” Balchunas wrote in a follow-up X post five hours later.
“No one knows. Given how sudden and explosive the increase in number of trades was (500 trades Friday, 50,000 trades today) I'm wondering if some Reddit or TikTok influencer type recommended them to their followers. Feels retail army-ish,” he added.
