Bitcoin ETF

Bitcoin

James

As the deadline for submissions to the U.S. Securities and Exchange Commission (SEC) has passed, major players in the Bitcoin <a href="https://news.todayq.com/bitcoin-etf-fee-reveal-ark21-fidelity-blackrock-in-spotlight/" target="_blank" rel="noopener noreferrer nofollow">exchange-traded fund (ETF) race</a> are making their final moves. Crypto experts from all around the ecosystem comment on which issuers hold an edge. Bitcoin ETF approval closes-in 
All major issuers, except Hashdex, have submitted their updated S-1 filings to the SEC. The list of potential launch-ready issuers includes <a href="https://news.todayq.com/grayscale-bitcoin-trust-gbtc-files-third-etf-amendment/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a>, Ark/21 Shares, BlackRock, Bitwise, VanEck, Wisdom Tree, Invesco, Fidelity, Valkyrie, and Franklin.
James Seyffart, Cryptos and Asset Management expert at Bloomberg gave out an overview of the fee war among Bitcoin ETF filers. Bitwise leads with the lowest long-term fee at 0.24%, followed closely by VanEck at 0.25%. Fee waivers are offered by some issuers for the initial six months, with rates going down to 0.0%. BlackRock has a fee waiver reducing its rate to 0.20%.
Multiple APs have been named by these ETFs, including Jane Street, Virtu, JP Morgan, ABN AMRO, Macquarie, Cantor Fitzgerald, and Marex Capital. The involvement of these APs raises questions about the potential impact of “In-Kind” transactions on their participation.
Grayscale has submitted an updated S-3, signaling a fee reduction from 2% to 1.5%, with a clause allowing for fee waivers. The possibility of further fee reductions remains as the finalized details are awaited.
Bitwise enters the Bitcoin ETF market with a 0.24% fee, coupled with a fee waiver for the first six months and the initial $1 billion in assets. This aggressive strategy aims to attract investors and gain an early advantage. Bloomberg analyst drops hint 
Eric Balchunas, Senior ETF Analyst for Bloomberg, notes Grayscale’s unexpected move in maintaining a 1.5% fee, potentially defying market expectations. The fee war intensifies, with Bitwise setting a competitive benchmark.
Fidelity, initially perceived as having the lowest fee at 0.39%, faces increased competition, shifting from a “wow” factor to a mid-range position. VanEck joins the competition with a 0.25% fee. BlackRock surprises the market with a lower-than-expected fee of 0.30%, putting pressure on other contenders.
Bitcoin briefly surpasses $45,000 in response to the updated filings from major ETF issuers. The market is closely watching the developments, with the expectation that SEC approval could have a significant impact on cryptocurrency investment products.
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Bitcoin ETF race enters final lap, Who holds edge Grayscale or BlackRock?

Todayq News

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