The post VanEck to offer zero-fee onboarding once the Ethereum ETF launches appeared on BitcoinEthereumNews.com.

VanEck, one of the creators of crypto-based ETFs, may incentivize new buyers with zero fees once its Ethereum (ETH) fund launches. The approach is similar to the early days of Bitcoin (BTC) ETF trading when fee discounts were offered to onboard new investors.  Once it is given the green light to start drawing investments, the Ethereum ETF awaits significant inflows. To boost the initial takeoff, the VanEck ETF issuer announced its plans for a no-fee onboarding. Read: Why BlackRock Ethereum ETF Is Pivotal to the Acceptance and Integration of Cryptocurrencies VanEck to Waive Fee Initially on Spot Ethereum ETF In an email to ETF dot com, Matthew Sigel, head of digital assets research for VanEck, wrote that the firm “aims to be a leader on crypto ETF fees even if it means we lose money at the outset.” They left out the 2nd part of the… — matthew sigel, recovering CFA (@matthew_sigel) June 25, 2024 The Ethereum ETF will bring a new layer of complexity, as it may involve transferring ETH and incurring additional expenses for gas fees. Currently, some Bitcoin ETFs still levy fees of 0.25%, though some BTC may be credited to their accounts without the need for a transfer. Most Bitcoin-based ETFs use Coinbase as their custodian, which credits their accounts with BTC based on demand. Ethereum ETF will have to build its own coin supply procedure to acquire the actual digital assets. ETH is heavily used in decentralized finance and has strong incentives to hold for participation in decentralized finance.  VanEck to waive fees until selling $1.5B in ETH The initial onboarding process for the ETF will be counted as a period of waiving the Sponsor Fee. The VanEck fund will have a 0.2% Sponsor Fee payable in cash or ETH to cover gas costs. This…

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Filed under: News - @ June 26, 2024 4:18 pm