VanEck Slashes Bitcoin ETF Fees to Zero
Global asset manager VanEck has slashed its fees for the HODL exchange-traded fund (ETF), the VanEck Bitcoin Trust, down to zero until March 31 next year.
VanEck posted on the social media platform X, “Because we believe in #bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025.*
“*During the period commencing on March 12, 2024, and ending on March 31, 2025, the Sponsor will waive the entire Sponsor Fee for the first $1.5 billion of the Trust’s assets. If the Trust’s assets exceed $1.5 billion prior to March 31, 2025, the Sponsor Fee charged on assets over $1.5 billion will be 0.20%. All investors will incur the same Sponsor Fee, which is the weighted average of those fee rates. After March 31, 2025, the Sponsor Fee will be 0.20%.”
In February, VanEck slashed its fees for the HODL down to 0.20% from 0.25% according to a filing submitted to the U.S. Securities and Exchange Commission (SEC).
Around ten spot Bitcoin ETFs are competing for investor attention in a saturated market. BlackRock’s product trading under the ticker symbol “IBIT” is continuing to lead the way. BlackRock’s ETF currently holds 195,985.31272 BTC and charges a 0.25% fee. Since its launch on January 11, the ETF has seen inflows cross $10 billion.
Other issuers, such as ARK Invest, charge 0.21%, and Bitwise charges 0.20%. Spot Bitcoin ETFs are increasingly the go-to choice for mainstream investors. They address issues such as storing crypto assets and dealing with fraudulent service providers.
IMPORTANT UPDATE!
Because we believe in #bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025.*
*During the period commencing on March 12,
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