Bloomberg analyst Eric Balchunas posted on X platform that as of 12:57 a.m. on February 20, the daily trading volume of VanEck Bitcoin Spot ETF (HODL) had reached $258 million, which is 14 times its average daily trading volume. Moreover, this trading volume did not come from a single large investor but from 32,000 individual transactions, which is 60 times its average transaction volume. According to updated data later, the trading volume of VanEck Bitcoin Spot ETF exceeded $399 million yesterday.