0
0
VanEck Announces Reduction in Spot Bitcoin ETF Fees
VanEck, a renowned American investment management firm based in New York City, has recently declared a decrease in spot Bitcoin ETF fees, enabling individuals to invest in VanEck Bitcoin Trust for the purpose of HODL until 31 March 2025. The time frame will commence on 12th March, with the Sponsor planning to entirely waive the Sponsor Fees for the first $1.5 billion of the Trust’s assets.
With assets surpassing $1.5 billion before March 31, 2025, the Sponsor Fees applied to the Trust’s assets will be 0.2% on the assets exceeding $1.5 billion. Each investor must remit the same fee, calculated as the weighted average of the total rates. Post 31 March 2025, the fees will remain at 0.2%.
Nevertheless, this reduction in spot Bitcoin ETF fee is only temporary, given that the assets fall significantly behind those of certain competitors. As per the asset manager, the fees will continue to decrease until the total fund reaches a maximum of $1.5 billion before the specified date. At present, HODL manages over $305 million in AUM (assets under management), while most other funds have surpassed the $1 billion threshold.
The weighted average sponsor fees will be determined based on the total assets of the fund. This bold step taken by VanEck to eliminate sponsor fees is aimed at attracting new investors to the platform, especially as the value of Bitcoin has surpassed the crucial level of $72,000 for the first time.
VanEck is continuously striving to make significant advancements to enhance access to Bitcoin through its competitively priced and thoughtfully designed solutions. Investors utilizing the VanEck platform can effectively gain exposure to the investment market and explore more lucrative opportunities and novel financial instruments.
Image/Photo credit: source url
