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#write2earn #BitcoinETF COMPETITION HEATS UP: #VANECK LEADS WITH FEE WAIVERS #bitcoin #ETF
$BTC
Investors have injected more than $200 million into VanEck's spot Bitcoin exchange-traded fund, taking advantage of fee waivers for the initial $1.5 billion in assets until March next year. This surge coincides with increasing competition among crypto ETF providers, driven by growing demand for Bitcoin exposure among investors. Bitcoin's price soared to a new high of $73,664 on Wednesday, marking a 3.6% increase .
Since its launch in January, the VanEck Bitcoin Trust, managing approximately $516 million, has seen a net inflow of $333 million, with a significant portion coming in over the past two days following the fee reduction from 0.20%, as reported by Bloomberg.
This is the second time the fund has reduced its fees to stay competitive against offerings from competitors like BlackRock Inc. and Fidelity Investments, which have attracted net inflows of $11.4 billion and $6.4 billion, respectively. Other providers, such as Bitwise and Invesco Ltd., have also temporarily waived charges or set conditions until their funds reach a certain size.
Grayscale Investments LLC recently introduced a clone of its Bitcoin ETF, named the Grayscale Bitcoin Mini Trust, in response to losing billions to lower-cost rivals. The Grayscale Bitcoin Trust, with the highest market fee of 1.5%, has experienced a net outflow of over $11 billion since January 11, according to Bloomberg data.
Outflows from the Grayscale Bitcoin Trust decreased to $78 million on Tuesday from nearly $500 million the previous day, resulting in a total net inflow of $1.04 billion for US Bitcoin ETFs, the largest daily inflow since their launch. Grayscale's spokesperson did not respond immediately to a request for comment outside of regular business hours.
The early success of the ten Bitcoin ETFs has attracted $11 billion in just two months. Coupled with the upcoming 'halving' event, which will halve the supply of new Bitcoin, competition for investor funds is expected to intensify further
$BTC
Investors have injected more than $200 million into VanEck's spot Bitcoin exchange-traded fund, taking advantage of fee waivers for the initial $1.5 billion in assets until March next year. This surge coincides with increasing competition among crypto ETF providers, driven by growing demand for Bitcoin exposure among investors. Bitcoin's price soared to a new high of $73,664 on Wednesday, marking a 3.6% increase .
Since its launch in January, the VanEck Bitcoin Trust, managing approximately $516 million, has seen a net inflow of $333 million, with a significant portion coming in over the past two days following the fee reduction from 0.20%, as reported by Bloomberg.
This is the second time the fund has reduced its fees to stay competitive against offerings from competitors like BlackRock Inc. and Fidelity Investments, which have attracted net inflows of $11.4 billion and $6.4 billion, respectively. Other providers, such as Bitwise and Invesco Ltd., have also temporarily waived charges or set conditions until their funds reach a certain size.
Grayscale Investments LLC recently introduced a clone of its Bitcoin ETF, named the Grayscale Bitcoin Mini Trust, in response to losing billions to lower-cost rivals. The Grayscale Bitcoin Trust, with the highest market fee of 1.5%, has experienced a net outflow of over $11 billion since January 11, according to Bloomberg data.
Outflows from the Grayscale Bitcoin Trust decreased to $78 million on Tuesday from nearly $500 million the previous day, resulting in a total net inflow of $1.04 billion for US Bitcoin ETFs, the largest daily inflow since their launch. Grayscale's spokesperson did not respond immediately to a request for comment outside of regular business hours.
The early success of the ten Bitcoin ETFs has attracted $11 billion in just two months. Coupled with the upcoming 'halving' event, which will halve the supply of new Bitcoin, competition for investor funds is expected to intensify further
