Since their inception in January, U.S. spot Bitcoin ETFs have attracted billions in inflows.
Asset manager VanEck will reduce all sponsor fees to zero for the first $1.5 billion of funds in its Bitcoin Trust ETF until March 31, 2025.
According to the March 11 announcement, the sponsor fee is levied at 0.20% of net assets under management for funds exceeding $1.5 billion. “Because we believe in #bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31, 2025,” the asset manager wrote.
The VanEck Bitcoin Trust ETF was approved by the U.S. Securities and Exchange Commission (SEC) on Jan. 4 and currently has $297.86 million in assets under management, with 4,299 Bitcoin (BTC) in its holdings. Tracking the performance of Bitcoin, the exchange-traded fund (ETF) has returned 87.7% since its inception two months ago.
