Bitcoin ETFs: Amplify launches active fund, VanEck adds 0.20% fee

Amplify ETFs introduced the Amplify Fairlead Tactical Bitcoin ETF (ticker BNAV) on the BATS exchange. The actively managed fund adjusts its Bitcoin exposure between 70% and 150% of net assets based on technical market signals, using derivatives such as futures and options rather than holding the cryptocurrency directly. It is overseen by Katie Stockton of Fairlead Asset Management and carries an annual expense ratio of 0.74%.

VanEck's Bitcoin ETF (ticker HODL) has begun charging a 0.20% annual management fee after failing to reach its $2.5 billion asset target. The fund currently manages about $1.076 billion, leaving it roughly $1.4 billion short of the threshold that had waived fees. The new fee places HODL between competitors such as Bitwise (0.20%) and Franklin (0.19%) and below BlackRock's iShares Bitcoin Trust (0.25%).