Asset manager VanEck's spot bitcoin (BTC) exchange-traded fund (ETF) saw record daily inflows on Monday after cutting management fees to 0% for a year to make it more attractive.

The VanEck Bitcoin Trust (HODL) attracted $119 million in fresh funds during the day, adding over 1,600 bitcoin, the most by a wide margin since its launch in January, data compiled by BitMEX Research shows.

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 attractive in a fierce competition between the newly listed bitcoin ETFs.

With Monday's inflows, VanEck's offering became the sixth-largest U.S.-listed spot bitcoin ETF, handling more than 6,000 BTC ($440 million) in assets under management and overtaking rivals Invesco (BTCO) and Valkyrie (BRRR), according to BitMEX data.

Spot bitcoin ETFs have enjoyed a streak of strong inflows as the bitcoin price rallied past $72,000 to record highs. Monday brought 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 (GBTC), BitMEX data show.

Last week, digital asset fund inflows hit record high of $2.7 billion, with bitcoin products attracting $2.6 billion of all flows, CoinShares reported.