VanEck’s Spot Bitcoin ETF Volume Jumps More Than 1,000%

Within days of VanEck announcing a decrease in fees for its spot Bitcoin ETF, the fund experienced a significant increase in trading volume.

As of 1:50 p.m. ET on Tuesday, the fund’s trading volume had surpassed $300 million, more than ten times its previous daily high.

The ETF launched on January 11 and had its best day with $25.5 million in trading volume, according to data from Yahoo Finance.

Bloomberg’s senior ETF analyst Eric Balchunas expressed his surprise at the fund’s successful performance, tweeting that it had a 14x increase in volume with 32,000 individual trades, 60x its average.

VanEck’s head of ETF product, Ed Lopez, commented on the high volume and tight spreads, stating that this is what investors want from an ETF, regardless of their outlook on the market.