VanEck’s Bitcoin ETF HODL saw a remarkable increase of 14 times in trading volume on February. In February, this ETF caught the interest of investors and analysts in the financial industry. It is one of the top ten bitcoin exchange-traded funds in the US and saw a substantial increase in trading volume, reaching over $400 million compared to its usual daily average of $17 million over the previous five weeks. HODL currently has almost $200 million in BTC holdings. This increase occurred just before VanEck announced a decrease in its offering fees from 0.25% to 0.20% on February 1st. 21. Controversy regarding the source. The sudden increase in volume has sparked a lot of talk, with different ideas being shared among the crypto and financial communities. Some believe that the spike may be due to an endorsement from a popular influencer on social media. On the other hand, some people believe that the surge in trading volume is a result of retail investors’ increasing fascination with cryptocurrency investments. Analyst Eric Balchunas from Bloomberg Intelligence proposed that the uptick in volume may be driven by individual traders rather than institutional investors. He observed that the ETF had 32,000 individual transactions, a significant rise from the 500 transactions seen the previous Friday. Balchunas stated that: I’m curious if the sudden and significant rise in trades could be attributed to a recommendation from a Reddit or TikTok influencer to their followers.