• VanEck has announced that it will no longer charge a management fee on its bitcoin spot ETF, HODL until March 31st 2025.
  • It used to charge a fee of 0.2%, which was lower than that charged by its competitors.

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VanEck has temporarily reduced the management fee for its exchange-traded bitcoin fund (ETF), HODL to zero, due to its assets being well below those of some of its competitors.

VanEck, a social media platform X, noted that the asset manager will waive the fee until March 31 2025 if the fund does not reach $1.5 billion of assets by then.

HODL charged its investors a 0.2% fee, which was one of the lowest of all the competitors. BlackRock, Fidelity Invesco WisdomTree and Valkyrie, for example, charge 0.25%. Franklin Templeton is the only company that charges a fee lower than 0.25%.

VanEck may claim that it has reduced its fees because it “believes in bitcoin so much,” but it is possible that it was due to a less successful launch of the fund compared with other funds.

HODL manages assets under management of just over $300 million, while the majority of other funds have already surpassed $1 billion. BlackRock’s iShares Bitcoin Funds (IBIT) have the highest AUM of all the issuers. Grayscale’s Bitcoin Trusts (GBTC), however, had already accumulated almost $30 billion when they joined the race.

Read more: Bitcoin Fees will Play a Critical Role in Popularity Race

Aoyon A. Ashraf is the editor.