Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
VanEck's Bitcoin ETF Sees Record Inflows After Cutting Management Fees to 0% for a Year

VanEck's Bitcoin ETF Sees Record Inflows After Cutting Management Fees to 0% for a Year

CointimeCointime2024/03/12 15:50
By:Cointime

VanEck's bitcoin exchange-traded fund (ETF) experienced a surge in daily inflows on Monday, reaching a record high after reducing management fees to 0% for a year. The VanEck Bitcoin Trust (HODL) attracted $119 million in fresh funds, adding over 1,600 bitcoin, the most since its launch in January. VanEck lowered the management fee from 0.2% until March 31, 2025, unless it reaches $1.5 billion in assets under management, making it more competitive in the growing market of newly listed bitcoin ETFs. The surge in inflows for VanEck's offering contributed to almost $1 billion of inflows for the nine new offerings combined, more than compensating for $500 million of outflows from the incumbent Grayscale Bitcoin Trust.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!