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VanEck extends Bitcoin ETF fee waiver to $2.5B

VanEck extends Bitcoin ETF fee waiver to $2.5B

GrafaGrafa2024/11/27 06:40
By:Isaac Francis

VanEck has announced an extension of its management fee waiver for the VanEck Bitcoin (CRYPTO:BTC) ETF (HODL), allowing investors to enjoy waived fees on the first $2.5 billion in net assets through January 10, 2026.

This decision, shared on November 25, aims to enhance the ETF's appeal in an increasingly competitive market.

Initially set to expire in March 2025 and applicable to the first $1.5 billion in assets under management (AUM), the fee waiver has been expanded due to rising investor interest.

"VanEck’s HODL ETF is approaching the original $1.5 billion threshold we had put in place, amid investor enthusiasm for Bitcoin’s outlook," said Kyle DaCruz, VanEck’s director of digital assets products.

He added that the extended waiver encourages investors to explore Bitcoin and digital assets for their portfolios.

The ETF charges a baseline management fee of 0.20%, which remains competitive but higher than some rivals, like Grayscale Bitcoin Mini Trust, which charges 0.15%.

The VanEck Bitcoin ETF currently holds $1.28 billion in net assets, positioning it behind several competitors.

For example, iShares Bitcoin Trust leads the market with $46 billion in AUM, according to BlackRock.

Since the launch of spot Bitcoin ETFs in January 2024, investor interest has surged, particularly following the election of President-elect Donald Trump, viewed as crypto-friendly.

According to Bloomberg Intelligence, U.S. Bitcoin ETFs surpassed $100 billion in net assets for the first time on November 21.

“The growth of spot Bitcoin ETFs stemmed from two main factors: broad Bitcoin adoption and a superior product," stated Bryan Armour, director of passive strategies research at Morningstar.

He added that ETFs simplify access for new investors by offering cheaper trading and secure Bitcoin storage practices.

At the time of reporting, the Bitcoin (BTC) price was $92,674.09.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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