According to a company announcement, VanEck will no longer charge trading fees on its Spot Bitcoin Exchange-Traded Funds (ETFs) until March 31 2025. VanEck invites new investors to take advantage of the latest crypto-asset surge by investing without additional fees.
“Because we believe in Bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025,” VanEck posted a X on his Facebook page. It goes on to list important fine print about the promotion.
“During the period commencing on March 12, 2024, and ending on March 31, 2025, the Sponsor will waive the entire Sponsor Fee for the first $1.5 billion of the Trust’s assets,” The post continues. “If the Trust’s assets exceed $1.5 billion prior to March 31, 2025, the Sponsor Fee charged on assets over $1.5 billion will be 0.20%. All investors will incur the same Sponsor Fee, which is the weighted average of those fee rates. After March 31, 2025, the Sponsor Fee will be 0.20%.”
VanEck Shares HODL Bitcoin ETFs have Bitcoin physically backing them and are held at cold storage by a qualified custodian. Currently, it holds 298,864,414 BTC net. The HODL has also 3,800,000 outstanding shares.
Bitcoin is on a steady rise since January 2024, when the Bitcoin ETF was approved. Earlier Monday, it surpassed the Swiss Franc The 13th most important currency is the dollar. VanEck may run similar promotional campaigns to encourage more asset managers to offer Bitcoin ETFs.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: watcher.guru