The VanEck Bitcoin ETF attracts over 200 million dollars in investment

VanEck's spot Bitcoin Exchange Traded Fund (ETF) has attracted over $200 million in investments after waiving fees for the first $1.5 billion in assets. The fee-free period will last until the end of March next year. As investors have a strong demand for exposure to Bitcoin, competition among cryptocurrency ETF issuers is heating up. Since its launch in January, VanEck's Bitcoin Trust has attracted net inflows of $333 million, most of which were realized within the past two days. Bloomberg data shows that the fund's fees have been reduced from 0.20%. This is the second fee reduction by the fund to compete with rivals such as BlackRock and Fidelity Investments, which have respectively attracted net inflows of $11.4 billion and $6.4 billion each. Other issuers like Bitwise and Invesco Ltd., are also temporarily waiving fees or until their funds reach a certain size.