VanEck's bitcoin exchange-traded fund (ETF) experienced a surge in daily inflows on Monday, reaching a record high after reducing management fees to 0% for a year. The VanEck Bitcoin Trust (HODL) attracted $119 million in fresh funds, adding over 1,600 bitcoin, the most since its launch in January. VanEck lowered the management fee from 0.2% until March 31, 2025, unless it reaches $1.5 billion in assets under management, making it more competitive in the growing market of newly listed bitcoin ETFs. The surge in inflows for VanEck's offering contributed to almost $1 billion of inflows for the nine new offerings combined, more than compensating for $500 million of outflows from the incumbent Grayscale Bitcoin Trust.