Spot Bitcoin ETF applicants slash sponsor fees, with Bitwise dropping to 0.20%
Bitwise set a record-low fee of 0.20% for its spot bitcoin ETF, awaiting an SEC decision expected on Wednesday.
Bitwise lowered the fee for its spot bitcoin exchange-traded fund down to 0.20% — the lowest among all the current offerings — according to an amended S-1 filing on Tuesday morning.
The fee war between spot bitcoin exchange-traded fund applicants has reached fever pitch. According to several market participants — including Valkyrie Investments co-founder and CIO Steven McClurg — the U.S. Securities and Exchange Commission might greenlight the first ETF on Wednesday evening, with trading potentially beginning on Thursday.
On Monday morning, a flurry of filings on the SEC website showed strong competition between the 13 current spot bitcoin ETF contenders, which tried to outbid each other by offering the lowest fees possible. Bitwise offered the lowest one, going with zero fees for the first six months or until the first $1 billion in assets, and 0.24% afterward. Today, Bitwise decided to go even lower by offering a 0.20% fee after the initial discount.
Multiple other competing issuers lowered their fees, too — with Valkyrie going from 0.80% to 0.49%, Invesco Galaxy from 0.59% to 0.39% and WisdomTree from 0.50% to 0.30%.
Ark/21Shares is continuing to offer zero fees for the first six months or until the fund has $1 billion in assets, and 0.25% after that. Invesco/Galaxy is also offering zero fees for the first six months or until the first $5 billion in assets. BlackRock offered a steep discount, dropping the fee to 0.2% for the first 12 months or until the fund hits $5 billion in assets. After that, it will be 0.3%.
The market has been holding its breath expecting spot bitcoin ETFs to get approved and drive new large volumes into the dominant cryptocurrency. Bitwise said it anticipated the market for spot bitcoin ETFs to reach around $72 billion within five years.
Valkyrie is expecting up to $400 million to flow into its ETF in the first week and the entire market to reach up to $5 billion over the first several weeks of trading. VanEck estimated that $1 billion of funds would arrive in the first few days and $2.4 billion within a quarter. Galaxy expects $14 billion within the first year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








