VanEck Temporarily Cuts Bitcoin ETF Fee to Zero After Lagging in Assets
Summary
VanEck has temporarily reduced the management fee for its spot bitcoin exchange-traded fund (ETF), HODL, to zero. This decision will remain in effect until March 31, 2025, or until the fund reaches $1.5 billion in assets. The previous fee was 0.2%, one of the lowest among competitors. The move comes as HODL's assets under management (AUM) stand at just over $305 million, significantly lower than most other funds, which have crossed the $1 billion mark. For instance, BlackRock’s iShares Bitcoin Fund (IBIT) has $13 billion in AUM, while Grayscale’s Bitcoin Trust (GBTC) had nearly $30 billion when it entered the market.
