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Highlights
- VanEck is extending the no-fee on its spot Bitcoin ETF to March 2025
- The fee slash comes at a time the price of Bitcoin is hitting multiple record highs
- The firm is currently winning the fee war against its core rivals
American investment management firm VanEck has doubled down on its spot Bitcoin ETF strategy as it recently unveiled another major sponsor fee slash.
The announcement of the fee slash was posted on the VanEck official X page and has generated responses from the crypto community.
Spot Bitcoin ETF: VanEck and the Fee Slash Goal
VanEck is offering investors an exclusive opportunity to invest in the VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025. The bold initiative emphasizes VanEck’s belief in the potential of Bitcoin as a transformative asset class, offering investors a chance to capitalize on this digital currency without incurring any fees for a substantial period.
So, commencing from March 12, 2024, and extending until March 31, 2025, VanEck will waive the entire Sponsor Fee for the first $1.5 billion of the Trust’s assets. This fee waiver applies to all investors embracing the VanEck Bitcoin Trust (HODL) during this specified timeframe.
IMPORTANT UPDATE!
Because we believe in #bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025.*
*During the period commencing on March 12, 2024, and ending on March 31, 2025, the Sponsor will waive the entire…
— VanEck (@vaneck_us) March 11, 2024
Analysts believe that the fee reduction is a strategic move aimed at enticing new customers to their ecosystem and maintaining competitiveness, especially as rival assets are also implementing various fee cuts. VanEck currently holds a competitive advantage due to the newly introduced terms.
A noteworthy fact though is that if the Trust’s assets surpass the $1.5 billion threshold before March 31, 2025, a nominal Sponsor Fee of 0.20% will be levied on assets exceeding this limit. This fee structure ensures fairness and transparency, as all investors will incur the same Sponsor Fee, calculated as the weighted average of the applicable fee rates.
Stakeholders are eager to observe the anticipated earnings of VanEck spot Bitcoin ETF following a recent influx of $14.2 million.
VanEck Fee Waiver Beyond the Set Time
Meanwhile, post-March 31, 2025, the Sponsor Fee for the VanEck spot Bitcoin ETF will stand at 0.20%. Some members of the community say this aligns well with firm’s commitment to maintaining a competitive and investor-friendly fee structure.
This extended fee waiver period presents an opportunity for investors to gain exposure to Bitcoin through the VanEck spot Bitcoin ETF without the burden of additional fees. The rate cut also comes at a time when the price of Bitcoin is breaking multiple highs, driving increased demand for the asset.
With this fee waiver offer, VanEck aims to empower investors to capitalize on the potential of Bitcoin as a valuable addition to their investment portfolios. Only a few days ago, after the BRICS nations made an announcement about Bitcoin, Gabor Gurbacs, an advisor for ETF issuer VanEck, was seen promoting the adoption of Bitcoin over hastily embracing Central Bank Digital Currencies (CBDCs).
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