Bitwise Files for Bitcoin-Ether ETF Amid VanEck’s Fee Waiver Strategy

• Bitwise Asset Management has filed an S-1 registration with the SEC to launch a spot Bitcoin and Ethereum ETF.
• Additionally, VanEck has extended its fee waiver for the HODL ETF to $2.5 billion until January 2026 to stay competitive.

Today, NYSE Arca filed to list a Bitwise ETP that would hold both spot bitcoin AND ether, weighted by market cap.

The goal: Give investors balanced exposure to the two largest crypto assets in the world in an easy-to-access format. pic.twitter.com/TcBpQM8OhW

— Bitwise (@BitwiseInvest) November 26, 2024

However, uncertainties remain, especially with anticipated leadership changes in the SEC as Chair Gary Gensler is set to step down in January 2025. Industry experts speculate that the upcoming Donald Trump administration may usher in a more favorable regulatory climate for cryptocurrencies.

On January 20, 2025 I will be stepping down as @SECGov Chair.

A thread

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— Gary Gensler (@GaryGensler) November 21, 2024

VanEck’s Fee Waiver Strategy

Meanwhile, VanEck has extended its fee waiver for the VanEck Bitcoin ETF (HODL) in an effort to maintain a competitive edge. The waiver, now applicable to the first $2.5 billion in net assets, has been extended until January 2026. This move significantly raises the previous threshold of $1.5 billion, which was set to expire in March 2025.

With a baseline management fee of 0.20%, VanEck’s ETF faces competition from lower-cost products like the Grayscale Bitcoin Mini Trust, which charges a 0.15% sponsor fee. By extending its fee waiver, VanEck aims to attract new investors and bolster its position in a market dominated by heavyweights such as iShares Bitcoin Trust, which manages $46 billion in assets.

The broader Bitcoin ETF market has experienced remarkable growth, driven by increased adoption and investor interest. According to Bloomberg Intelligence, Bitcoin ETFs surpassed $100 billion in net assets for the first time on November 21.

Analysts have come foward attributing this surge to the widespread appeal of ETFs as a cost-effective and secure way to invest in Bitcoin, especially for those unfamiliar with cryptocurrency exchanges and wallets.

Bitcoin’s on-chain activity nearing one million daily active users underscores the growing retail adoption of the leading cryptocurrency. Some analysts are optimistic about Bitcoin’s price trajectory, with predictions of it reaching $100,000 by year-end.