s excitement builds among investors that a much-anticipated first spot bitcoin ETF could launch early next year, firms are disclosing the tickers for their funds as they prepare for fierce marketing competition if the exchange-traded funds are approved.

VanEck included the firm’s meme reference ticker HODL in their most recent amendment filed Dec. 8 to the firm’s S-1 filing, while Fidelity Investments’ ticker, FBTC, appeared on the Depository Trust & Clearing Corp. website on Dec. 7.

VanEck’s ticker, HODL, is likely a nod to a popular cryptocurrency term often used to mean “Hold On For Dear Life.” Eric Balchunas noted on X that HODL was differentiated from tickers from BlackRock Inc., Invesco and Fidelity as a “departure from the more boring Boomer-y choices.” BlackRock’s proposed ticker is IBTC, and Invesco’s is BTCO.

While having a catchy or entertaining ticker could speak directly to crypto retail investors, it doesn’t necessarily indicate that investors would be won over by a pertinent reference or pun.

“It’s hard to say how much impact a ticker has on the demand for an ETF,” said etf.com senior analyst Sumit Roy. “A good ticker could make a fund more memorable (i.e. “HACK” for a cybersecurity ETF), but it only plays a tiny part in an ETF’s success.”

Many ETFs with memorable tickers have also failed to gain traction. For example, Roundhill Investments recently announced it was shuttering its Roundhill MEME ETF (MEME) after the fund failed to gain traction with its targeted audience of retail traders.

Spot Bitcoin ETF Race

Fees, liquidity and brand recognition will be key factors that investors will use to differentiate funds, according to both fund issuers and analysts.

In an interview with etf.com in November, Cathie Wood, who operates spot bitcoin ETF hopeful issuer ARK Invest, said that if multiple spot bitcoin ETFs are launched at the same time, firms will jockey to win over both institutional and retail investors.