Register on the Bybit exchange and receive a bonus of $4000.
Kryptowaluty

VanEck cuts bitcoin ETF fees to 0.20%

The change is aimed at making the product more attractive to investors, especially in the context of growing interest in the cryptocurrency market.

Date: 2024-02-16 Author: Łukasz Michałek
VanEck cuts bitcoin ETF fees to 0.20%

VanEck has reduced fees for the VanEck Bitcoin Trust, a HODL Exchange Traded Fund (ETF), from 0.25% to 0.20%, according to a recent Securities and Exchange Commission filing.

In a saturated market, there are nearly a dozen bitcoin ETFs vying for investors’ attention. For the first twelve months, or until it reaches its first five billion dollars in assets under management, BlackRock has set its commission for the iShares ETF at 0.12%. Later it plans to increase it to 0.25%.

Other issuers, such as ARK Invest and Bitwise, charge 0.21%. Mainstream investors are increasingly opting for bitcoin ETFs. Solving problems such as holding crypto assets and dealing with rogue service providers.

Aurelie Barthere, chief research analyst at Nansen, said in a recent interview with Cryptonews.com that she expects ETFs with lower fees to attract more inflows in the short term.

According to Barther, the competitive landscape among bitcoin ETF providers will be shaped by factors such as reputation, size, existing coverage and management fees. “Reputation/size/current range management fee is likely to lead to some leaders dominating the market,” she predicted.

CTA
Sign up for ByBit exchange

Data released on February 13 revealed that the BlackRock-owned IBIT Bitcoin ETF has accumulated more than 100,000 bitcoins, positioning the company as a clear leader in a closely contested sector. According to official data released by the asset manager, the BlackRock-owned iShares Bitcoin Trust (IBIT) holds an astronomical 105,280.3 BTC in its portfolio.

At market valuations, the bitcoin haul is worth more than $5.4 billion. IBIT’s bitcoin ETF also contains a fiat currency component worth $80,698.75. The fund currently has more than 167.24 million shares locked in trading.

On Monday, Franklin Templeton joined a number of asset managers, including BlackRock, Fidelity, Grayscale, VanEck, Invesco and Galaxy, as well as Cathy Wood’s Ark Invests and 21Shares, who have applied to create a spot Ethereum ETF.

Bitfinex’s director of derivatives, Jag Kooner, an analyst, believes that the current market movement is consistent with the kind of growth that usually occurs eight weeks before halving.

In a statement published on Cryptonews, Kooner said: “This increase could potentially push prices beyond the highest levels of the previous cycle.” He cited Bitcoin ‘s recent trillion-dollar increase in market capitalization and steady inflows into Bitcoin ETFs.

CTA
Sign up for ByBit exchange
Łukasz Michałek
Łukasz Michałek
Founder of the rapidly developing cryptocurrency channel "Biblia Kryptowalut" on YouTube. He also co-creates the Arena Trading group with Marek. Łukasz is fascinated and passionate about blockchain technology and cryptocurrencies, which constitute the central element of his activity in the cryptocurrency industry.
Register on the Bybit exchange and receive a bonus of $4000.
Get Bonus