VanEck announced it is waiving the management fee for its spot Bitcoin exchange-traded fund (ETF), $HODL, for the next 12 months, leading to a record-breaking single-day inflow of nearly $120 million. This strategic move resulted in VanEck's products surpassing $1 billion in inflows, significantly outperforming GBTC's $494 million in outflows, and pushing the total assets under management to just shy of $60 billion. The trading volume for $HODL also reached approximately 10 times its 30-day average, indicating strong investor interest. This was part of a broader market impact, with the second biggest volume day for VanEck, seeing $8.5 billion in trades. Following the fee waiver, over $200 million was poured into the fund. CEO Jan van Eck discussed the ETF's long-term strategy and competitive positioning in light of these developments.
Strong onchain inflows for @vaneck_us's bitcoin ETF since fee lowered to 0% https://t.co/mHV96bacNI
LISTEN NOW: VanEck temporarily cut its bitcoin ETF fee to 0% on Monday and inflows have surged more than $200M. CEO Jan van Eck talks long-term strategy and competing with the larger players. Listen and follow the @CNBCOvertime podcast here: https://t.co/PhvVUfQoPP https://t.co/vldBKNiQvq
Investors have poured over $200 million into VanEck’s spot Bitcoin exchange-traded fund after it waived fees https://t.co/d5JRNCyNmM
Second biggest volume day for the ten and best day in the past five w/ $8.5b (only five stocks traded more). $IBIT went crazy again (double $GLD volume) but the middle of pack really seeing pick-up, $HODL and $BTCO did 150m and 250m, huge for them https://t.co/BsGImq1xeq
VanEck's spot #bitcoinetf $HODL saw its largest inflow of nearly $120 million on Monday after cutting the management fee to 0%. @sndr_krisztian reports https://t.co/YWHg3jBBv7
$HODL volume massive today too, about 10x its 30day avg, likely foreshadow to more inflows. VanEck chose rich. https://t.co/E57DarXYiw
VanEck announced it is waiving fee for next 12mo for $HOLD and immediately shatters its personal flow record w $119m which added to the Nine's $1b in flow yest (i think record) which was more than enough to outdo GBTC's $494m in outflows. Assets in the ten a hair away from $60b. https://t.co/55tNol99r2