Spot Bitcoin ETF Issuers in Fee War Ahead of Possible SEC Approval
Spot Bitcoin exchange-traded fund (ETF) fee war has commenced before the US Securities and Exchange Commission (SEC) has even approved the product.
Spot Bitcoin ETF fees are as follows: Ark is charging: 0.25%, Bitwise fees: 0.24%, BlackRock iShares is keeping its fees high at: 0.30%, VanEck at 0.25%, WisdomTree at 0.5%and 21Shares at 0.25%.
James Seyffart, ETF Research Analyst with Bloomberg Intelligence, highlights the, “lowest long term fee is Bitwise at 0.24% followed closely by VanEck at 0.25%. But we also have fee waivers on 3 for 6 months down to 0.0%. Plus BlackRock waiver to 0.20%”
WOW: This morning was wild for #Bitcoin ETF filers. Here's the state of play on the fee war front. Lowest long term fee is @BitwiseInvest at 0.24% followed closely by @vaneck_us at 0.25%. But we also have fee waivers on 3 for 6 months down to 0.0%. Plus BlackRock waiver to 0.20% pic.twitter.com/8bfhtFHOfH
— James Seyffart (@JSeyff) January 8, 2024
This is a highly anticipated event which is expected to impact the price of Bitcoin.
It seems approval of a spot Bitcoin (BTC) ETF in the United States appears to be imminent, writes Aditya Das, market analyst at Brave New Coin, in his newsletter. Adding that the final deadline for at least one major ETF application, the Ark 21 Shares application, is January 10th. But analysts have suggested that the SEC may, for convenience’s sake, approve multiple applications on this date.
“In the last day, exchanges where the spot Bitcoin ETFs have applied for trading listed amended documents related to the applications. Market observers have suggested that this means the exchanges expect the US Securities and Exchange Commission (SEC) to approve the ETF applications in the coming days,” adds Das.
Bloomberg ETF
