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Investment management company VanEck announced that it will waive the management fee for its Bitcoin spot ETF "HODL" starting from March 12th this year until March 31st, 2025. This decision aims to attract more investors, as the fund's assets under management (AUM) currently amount to $305 million.
Previously, the management fee for HODL was 0.2%, which was already lower than that of competitors. Other major players in the market, such as BlackRock, Fidelity, Invesco, WisdomTree, and Valkyrie, charge fees ranging from 0.25% to 0.19%. In terms of AUM, BlackRock's iShares Bitcoin Fund (IBIT) leads the market with $13 billion, excluding Grayscale's Bitcoin Trust (GBTC), with Bitcoin spot ETFs collectively holding nearly $30 billion in assets.
VanEck's decision to waive all trading fees for its Bitcoin spot ETF has received enthusiastic responses from the market, with many seeing it as a strategic move to attract both retail and institutional investors. It is expected that this move will make Bitcoin more attractive to investors and potentially drive up the price of cryptocurrencies in the coming years.
With the increasing popularity of cryptocurrencies and the convenience provided by spot ETFs like HODL, investors now have the opportunity to invest in Bitcoin at lower trading costs compared to some cryptocurrency exchanges. VanEck's bold move could disrupt the competitive landscape of the cryptocurrency market and bring further innovation to the industry. |
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Post time 21-3-2024 22:06:01
