ETF provider VanEck has announced it will cut the management fee on its Bitcoin ETF, VBTC, as crypto funds experience a brutal year. 

In an ASX statement, the firm said VBTC’s fees would be reduced from 0.45 per cent to 0.25 per cent per annum, effective 1 August. It follows an earlier fee cut from 0.49 per cent in February. 

The fund now goes head-to-head with Monochrome’s Bitcoin ETF (IBTC), which also charges a 0.25 per cent management fee and describes itself on its website as “Australia’s lowest-cost Bitcoin ETF”. 

According to fund websites, management fees for Australian-listed Bitcoin ETFs are currently clustered between 0.25 per cent and 0.49 per cent per annum. DigitalX’s Bitcoin ETF charges the…