Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Fund issuers lower planned spot bitcoin ETF fees as possible launches approach

Fund issuers lower planned spot bitcoin ETF fees as possible launches approach

BlockworksBlockworks2024/01/09 22:07
By:Blockworks

With an SEC ruling on spot bitcoin ETFs expected by Wednesday, Bitwise, WisdomTree, Invesco and Valkyrie reveal new intended fees for their planned offerings

Bitwise and other fund groups prepping a spot bitcoin ETF decided to lower their fees ahead of the Securities and Exchange Commission’s ruling on such funds. 

A handful of issuers first revealed intended price points of their planned bitcoin funds on Monday. Some then amended their fees in updated registration statements filed roughly 24 hours later.   

Crypto-focused firm Bitwise — which had emerged as the leader Monday with the 0.24% planned fee for its bitcoin ETF — now seeks to charge 0.20% for the product, a Tuesday filing indicated.

WisdomTree, Invesco and Valkyrie are also looking to become more competitive in what industry watchers expect will be a fierce fight for assets.

Read more: Fees, liquidity, brand: The factors investors would weigh when picking a bitcoin ETF  

WisdomTree dropped the planned fee for its proposed spot bitcoin ETF fee from 0.50% to 0.30% Tuesday. A fund by Invesco and Galaxy Digital would now charge 0.39%, down from 0.59%.

Meanwhile Valkyrie, which revealed a higher-than-most fee of 0.80% on Monday, disclosed a new intended fee of 0.49% in its latest registration statement.

The SEC could still block such products from launching, as it has done over the years . A decision on these funds is expected by tomorrow. 

The price updates come after The ETF Store president Nate Geraci told Blockworks the low planned fees disclosed Monday “speaks to how brutally competitive this category will be.” He noted that the price levels show that investors — should these funds be approved — are “the clear winners.”

Proposed products by BlackRock, Fidelity, Franklin Templeton, VanEck, as well as one by Ark Invest and 21Shares, appear poised to carry the same fee they revealed Monday — ranging from 0.25% to 0.39%. BlackRock’s planned fund would charge 0.20% for the first $5 billion of the fund’s assets, before increasing to 0.30%.     

Grayscale Investments — whose spot bitcoin ETF would have the highest fee, at 1.5% — also kept that price point, a Tuesday disclosure shows.

Don’t miss the next big story – join our  free daily newsletter .

Tags
  • bitcoin etf
  • Bitwise
  • ETFs
0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!