• VanEck, which is set to lower its offering fee to 0.20% on Wednesday from 0.25%, may be the cause of this sudden increase in volume.
  • HODL was the third largest daily volume behind Grayscale GBTC, and BlockRock IBIT.

BTC Price Index and Live Chart – CoinDesk”>(BTC) exchange-traded funds in the U.S. (ETF), surged over 2,200% on Tuesday in a move driven by individual traders.

HODL traded more than $400 million on Tuesday. This is a 22-fold increase over the daily average of $17. VanEck plans to reduce its fee from 0.25% down to 0.20% on Wednesday.

HODL was the third largest volume after Grayscale’s GBTC, and BlockRock IBIT. These are the usual leaders. shows that the ETF held nearly $200 million in bitcoin on Feb.20.

Bloomberg Intelligence analyst Eric Balchunas stated on X, that the volume was a result of 32,000 trades rather than one large investor – showing signs a retail mania.

Balchunas asked: “Given the sudden and explosive increase in trades (500 trades on Friday, 50,000 today), I wonder if some Reddit influencer or TikTok type recommended them to followers.” “Feel retail army-like.”

reported that the unusually high volumes of HODL contributed to bitcoin ETFs having their best day ever since they went live in January.

Parikshit Miishra is the editor.