VanEck's spot bitcoin ETF attracts $119 million in new investments after cutting management fee to 0% for one year.

The fee waiver led to the addition of over 1,600 bitcoin, making the fund the sixth-largest U.S.-listed spot bitcoin ETF.

Spot bitcoin ETFs are gaining popularity, with nearly $1 billion in inflows for nine new offerings combined on a single Monday.

Digital asset fund inflows reached a record $2.7 billion last week, signaling rising investor interest.

VanEck aims to offer enhanced value and competitive pricing to investors with its fee reduction strategy.

The recent UK Financial Conduct Authority's decision to permit crypto-backed ETNs for professional investors may be influencing bitcoin's surge to a record high of $72,850.