The fund finished well below its $2.5 billion waiver threshold, after which a 0.20% sponsor fee applies to all trust assets unless VanEck files another extension.
VanEck’s Bitcoin ETF HODL is ending its zero-sponsor-fee period on July 31 with $1.076 billion in net assets as of July 30, leaving it at 43.0% of the waiver’s $2.5 billion asset threshold. Because the fund stayed about $1.424 billion below that level, the waiver remained fully in effect through its final day. Under the filing’s structure, only assets above $2.5 billion would have been charged a 0.20% sponsor fee before the deadline, creating a weighted fee rather than abruptly ending the waiver. After July 31, however, the 0.20% sponsor fee applies across all trust assets, according to VanEck’s latest fee-waiver filing. At the July 30 asset level, that annual charge would equal about $2.15 million, or roughly $20 a year on every $10,000 invested, excluding other ownership costs such as brokerage commissions, bid-ask spreads (gap between buy and sell prices), premiums or discounts to net asset value, taxes and other expenses. VanEck filed the latest extension on Nov. 25, 2025, replacing an earlier Jan. 10, 2026 deadline with July 31. Farside Investors data shows HODL posted net $87.6 million of outflows across 169 dated sessions from Nov. 25 through July 30, though those flow figures do not by themselves measure changes in assets under management or predict investor behavior after the fee begins. In the latest session, HODL brought in $2.3 million on July 30, about 0.99% of the $233.1 million net inflow across tracked U.S. spot-Bitcoin products, while Farside listed cumulative net inflows at $1.146 billion, separate from the fund’s $1.076 billion in net assets. Once the waiver expires, HODL’s 0.20% sponsor fee will match the Bitwise Bitcoin ETF, sit below the iShares Bitcoin Trust ETF’s 0.25%, and stand one basis point above the Franklin Bitcoin ETF’s 0.19%.