Van Eck had $118M of Bitcoin ETF inflows yesterday (after announcing the waiving of their management fees), which was 6x higher than their second-highest day of fund inflows.
132 sats \ 1 reply \ @gnilma 12 Mar
Competition is awesome. Now let's see what the other funds do.
reply
63 sats \ 0 replies \ @kr OP 12 Mar
hoping someone tries a -0.1% fee for a year
reply
27 sats \ 4 replies \ @DiedOnTitan 12 Mar
It's great that Van Eck has become a philanthropic organization. \s
They have to make money somehow. If they are not rehypothecating then maybe they are making a bid/ask spread?
reply
259 sats \ 3 replies \ @kr OP 12 Mar freebie
they make money in future years.
this campaign is designed to get money flowing in, and the assumption is that bitcoin will grow in value so much that by the end of the year nobody will want to switch to a different ETF provider because they’d have such high taxes to pay on capital gains.
at that point, customers are locked in and are willing to pay higher management fees.
reply
164 sats \ 1 reply \ @elvismercury 12 Mar
So they get people in and then rug them with fees? Loss-leading, basically? Lame. But predictable, I guess.
reply
42 sats \ 0 replies \ @kr OP 12 Mar
yeah i see it as a loss-leader
reply
143 sats \ 0 replies \ @DiedOnTitan 12 Mar
Makes sense. This is another good argument for why one should not buy the ETF over holding keys oneself.
reply
0 sats \ 0 replies \ @TheBTCManual 12 Mar
So we're at the zero bound, what's next? I feel like earn a yield has to be next, options markets or borrow against your ETF has to be the next products,
reply
0 sats \ 1 reply \ @tomlaies 12 Mar
I'm still so surprised by how much demand there is for Bitcoin ETFs. Like, wtf. The demand that will come fromthem buying the underlying - insane.
reply
10 sats \ 0 replies \ @Enemy_of_the_state 12 Mar
It’s the only way for certain entities to benefit from the price action. Pension funds, corporations, 401ks…there is a sea of money that was unable to flow into BTC.
reply