Top Highlights

• VanEck is waiving sponsor fees for its spot Bitcoin ETF, the New York-based investment firm said in a updated prospectus filed with the U.S. Securities and Exchange Commission on Monday.
• “We listen to our clients and understand the importance of continually reassessing our fee structures to align with their expectations and the dynamic nature of the market," Kyle DaCruz, VanEck Director of Digital Assets, told Decrypt.
• “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 company asserted. VanEck's spot Bitcoin ETF has drawn $297 million so far, according to its website.
• Angling for an edge, other firms launched with zero percent fees: Bitwise Bitcoin ETF, Ark 21 Shares Bitcoin ETF, and Invesco Galaxy Bitcoin ETF. Now VanEck has joined the no-fee club.
• VanEck maintains that it may occasionally waive all or part of its sponsor fee at its discretion, adding that the firm is under no obligation to waive any fees, and that any fee waiver is limited to what is stated in the prospectus.

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