VanEck’s Bitcoin ETF Sees $200 Million Inflow After Waiving Fees

Investors have poured over $200 million into VanEck’s spot Bitcoin exchange-traded fund after it waived fees for the first $1.5 billion in assets until the end of March next year.

The inflows come just as competition among crypto ETF issuers is heating up, driven by strong investor demand for Bitcoin exposure. The price of the original cryptocurrency hit a new record of $73,664 on Wednesday, rising 3.6% as of 9:15 a.m in London.

The VanEck Bitcoin Trust, which manages about $516 million, has attracted a net inflow of $333 million since its launch in January, with the bulk of it ...