Summary
VanEck is waiving sponsor fees for its spot Bitcoin ETF to attract more investors. The company will waive fees for the first $1.5 billion of the Trust’s assets until March 31, 2025. If assets exceed $1.5 billion, a 0.20% fee will be charged. Other firms have also launched zero percent fee ETFs to compete. VanEck may waive fees at its discretion, but is not obligated to do so. This move comes as Bitcoin ETF issuers aim to attract more investors to their products.
Key Points
1. VanEck is waiving sponsor fees for its spot Bitcoin ETF, with the company asserting that the entire sponsor fee will be waived for the first $1.5 billion of the Trust’s assets from March 12, 2024, to March 31, 2025.
2. VanEck’s spot Bitcoin ETF has drawn $297 million in assets so far, and if the Bitcoin Trust assets exceed $1.5 billion before March 31, 2025, the sponsor fee charged on assets over $1.5 billion will be 0.20%.
3. Other firms like Bitwise Bitcoin ETF, Ark 21 Shares Bitcoin ETF, and Invesco Galaxy Bitcoin ETF have also launched with zero percent fees, and VanEck has now joined the no-fee club in an effort to attract investors to their products focused on the digital asset.