According to data provided by BitMEX Research, the VanEck Bitcoin Trust (HODL) received a total of $119 million in new assets during the day, which resulted in the addition of more than 1,600 bitcoin.
This is the highest amount of bitcoin since the trust was first introduced in January.
The management fee for VanEck has been reduced from 0.2% until March 31, 2025, unless the company hits $1.5 billion in assets under management. This change makes the company more appealing in the context of the intense competition that exists amongst newly listed bitcoin exchange-traded funds (ETFs).
According to statistics provided by BitMEX, VanEck's product has successfully surpassed its competitors Invesco (BTCO) and Valkyrie (BRRR) to become the sixth-largest spot bitcoin exchange-traded fund (ETF) that is listed in the United States
It currently manages more than 6,000 BTC, which is equivalent to $440 million, in assets under management.
Spot bitcoin exchange-traded funds (ETFs) have been experiencing a string of significant inflows as the price of bitcoin has risen to historic highs, surpassing $72,000. According to the data provided by BitMEX, Monday generated inflows of about one billion dollars for the nine new offers combined. These inflows more than compensated for the withdrawals of five hundred million dollars from the already established Grayscale Bitcoin Trust (GBTC).
CoinShares said that the amount of money that was invested in digital asset funds reached a record high of $2.7 billion last week, with bitcoin products drawing $2.6 billion of the total amount.
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