VanEck rewards bitcoin ETF investors after hitting inflows milestone
VanEck has lowered its annual management fee on its Bitcoin exchange traded fund (ETF) (VBTC) after it saw over $18 million in inflows since its inception on 20 June.
The fund’s fee will be reduced to 0.49 per cent, with VanEck CEO and Managing Director for AsiaPacific, Arian Neiron, saying it speaks to the demand for cryptocurrency from investors, but offers the added benefit of being packaged in a regulated investment vehicle.
“The response to VBTC from investors and across the investment community has been remarkable. While still polarising, bitcoin is no longer on the fringes and is evolving into the mainstream,” he said.
“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.”
VanEck was the first fund manager to launch a bitcoin ETF on the Australian Securities Exchange (ASX) after receiving necessary regulatory approvals.
Another levy on financial advisers. This is just blatant persecution.
Here comes another moral hazard. It just encourages the bureaucracy to bloat at the expense of productivity and prosperity.
Rules only apply to some, generally if your cheque book is large enough then you are ok to do whatever…
This is the sort of rubbish that comes out of the modern version of Treasury advice. The boys over in…
This just goes to show the contempt and distain by regulators for the advice sector. A never-ending pole on stuff…