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VanEck Australia

  •   15 July 2024
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VanEck reduces fee for bitcoin ETF amid increasing investor interest

Sydney – 12 July 2024: VanEck, the fastest growing ETF provider in Australia, is reducing the annual management fee of its VanEck Bitcoin ETF (ASX: VBTC) effective 12 July 2024.

VBTC’s fee will be reduced to 0.49% p.a. ensuring investors can continue to access the most cost-effective bitcoin opportunity on the ASX, from a global asset manager that has unparalleled digital assets expertise.

This decision follows more than $18 million flowing into the fund since its launch on 20 June after trading on listing day exceeded $3 million.

Arian Neiron, CEO and Managing Director, VanEck, Asia Pacific said: “The response to VBTC from investors and across the investment community has been remarkable and speaks to the demand for access to this asset class via a regulated vehicle on the ASX. While still polarising, bitcoin is no longer on the fringes and is evolving into the mainstream.

“We are in the midst of a paradigm shift following the ASX’s approval with a flurry of bitcoin ETFs listing, and likely more to come. Investors need to be mindful of not only the investment risk of the asset class itself but importantly, the fund and its longevity and the risk surrounding the fund managers launching these funds. Bitcoin ETFs have only been available in Australia for a short time and yet we’ve already seen multiple funds fold,” Neiron said.

VanEck currently manages more than US$2 billion worth of digital assets worldwide. VanEck was the first fund manager in Australia to lodge a submission for a bitcoin ETF and launched the first bitcoin ETF on ASX. In the US, the firm has been investing in digital asset products since 2017 and was the first established ETF issuer to file for a futures-based Bitcoin ETF in 2017, followed up by a spot Bitcoin ETF in 2018. The firm’s European arm currently manages 12 crypto ETPs, and its subsidiary, MarketVector IndexesTM, was the first to launch a definitive suite of digital asset indexes with its flagship Bitcoin & Ethereum Benchmark Rates.

VBTC gives investors exposure to the price of bitcoin, before fees and other costs, via an ETF, which provides investors institutional-grade protection.

 

  •   15 July 2024
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