VanEck Spot Bitcoin ETF Sees Record $119M Inflow After Fee Cut to 0%
VanEck's spot bitcoin exchange-traded fund (ETF) experienced record daily inflows on Monday after reducing management fees to 0% for a year. The VanEck Bitcoin Trust attracted $119 million in new funds, adding over 1,600 bitcoin, the highest since its launch in January. The management fee was lowered from 0.2% until March 31, 2025, unless the fund reaches $1.5 billion in assets under management. This move made VanEck's offering the sixth-largest U.S.-listed spot bitcoin ETF, managing over 6,000 BTC ($440 million) in assets and surpassing rivals Invesco and Valkyrie. Spot bitcoin ETFs have seen strong inflows as the bitcoin price reached record highs past $72,000. On Monday, almost $1 billion of inflows were recorded for the nine new offerings combined, offsetting $500 million of outflows from the Grayscale Bitcoin Trust. Last week, digital asset fund inflows reached a record high of $2.7 billion, with bitcoin products accounting for $2.6 billion of all flows.
