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. “This fee waiver reflects our dedication to providing competitive investment opportunities that meet the needs of investors, and we believe it may encourage even more investors to explore the potential of Bitcoin as part of their investment strategy.”

The filing references a broader prospectus filed on March 1 and says the company is executing its previously reserved right to waive fees.

“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.

If its Bitcoin Trust assets exceed $1.5 billion before March 31, 2025, the sponsor fee charged on assets over $1.5 billion will be 0.20%. That will also be the fee f

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Author: Jason Nelson

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