VanEck's Bitcoin ETF (HODL) concludes its zero-sponsor-fee period today, July 31, with $1.076 billion in net assets, falling below the $2.5 billion waiver threshold. A 0.20% annual sponsor fee will now apply to all trust assets, impacting investor costs and HODL's competitive standing against other spot-Bitcoin ETFs.
Morgan Stanley filed amended registration statements for proposed Ethereum and Solana ETF trusts, setting a 0.14% annual delegated sponsor fee, the lowest for such products globally. The move aims to position these crypto assets as portfolio building blocks for institutional investors.
Morgan Stanley launched the first US bank-affiliated spot Bitcoin ETF (MSBT) on April 8 with a 0.14% sponsor fee, the lowest in the category. The fund attracted $116 million in cumulative net inflows by April 16, surpassing BTCW's $86 million total in less than two weeks. Goldman Sachs filed for a Bitcoin ETF six days later, while Bank of America and Schwab announced expanded crypto access, signaling rapid normalization of bank-branded crypto products.
