Bitcoin ETF

Bitcoin

<p class="is-style-lead">BlackRock cuts its fee for the potential Bitcoin ETF, looking to crush the competition before the products even reach the market.</p> 
<p>BlackRock, a global investment management behemoth, has announced a significant fee reduction for its spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) exchange-traded fund (<a href="https://crypto.news/live/bitcoin-etf-news/">ETF</a>), setting a new competitive standard in the cryptocurrency investment space. This is a significant play by the world’s top asset management firm amid fierce competition in the still unexisting United States Bitcoin spot ETF space.</p> 
<h2 class="wp-block-heading" id="the-race-to-the-bottom">The race to the bottom</h2> 
<p>Similarly, <a href="https://crypto.news/tag/ark/">Ark Invest</a> also <a href="https://www.bloomberg.com/news/articles/2024-01-10/blackrock-ark-slash-bitcoin-btc-etf-fees-again-ahead-of-sec-deadline" target="_blank" rel="noopener">decreased</a> its fee to 0.25%. <a href="https://crypto.news/bitwise-poll-on-spot-bitcoin-etf-shows-doubt-investors-consider-galaxy-fox-presale/">Bitwise</a> <a href="https://www.bloomberg.com/news/newsletters/2024-01-09/the-race-to-the-bottom-in-spot-bitcoin-etf-fees-is-speeding-up-btc" target="_blank" rel="noopener">chose</a> a slightly different approach by offering zero fees for the first six months or until the fund reaches a certain size. After that, the fund will charge 0.39% — down from the previous 0.59%.</p> 
<p> You might also like: <a href="https://crypto.news/fidelity-cuts-proposed-spot-bitcoin-etf-fee-to-0-25-amid-industry-fee-competition/"> Fidelity cuts proposed spot Bitcoin ETF fee to 0.25% amid industry fee competition </a> </p> 
<p>According to a Jan. 10 <a href="https://twitter.com/EricBalchunas/status/1745045150781284452" target="_blank" rel="noopener">tweet</a> by Eric Balchunas — a senior ETF analyst at Bloomberg — BlackRock has reduced the fee on its spot Bitcoin ETF to 0.25% and even further to 0.12% for the first $5 billion. The move is seen as an aggressive strategy to outpace competitors in the burgeoning ETF market for cryptocurrencies.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">LOWER: BlackRock has just cut the fee on its spot Bitcoin ETF to 0.25% (and 0.12% for the first $5b). They really going for the jugular here, looking to crush the others bf they even born, just brutal. ARK has also cut to 0.21%. Bitwise curr low at 0.20%. Terrordome life. <a href="https://t.co/PtSrvAinbW" target="_blank">pic.twitter.com/PtSrvAinbW</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1745045150781284452?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Balchunas highlighted that this fee cut is a bold play by BlackRock, aiming to dominate the market even before other products have a chance to establish themselves. The intense competition is indicative of the expected demand and investment interest in digital assets, suggesting a fierce battle for market share among ETF providers.</p> 
<p> Read more: <a href="https://crypto.news/bitcoin-dips-3-on-false-sec-spot-bitcoin-etf-approval/"> Bitcoin dips 3% on false SEC spot Bitcoin ETF approval </a> </p>

BlackRock races to the bottom with new Bitcoin ETF fee

Table of Contents

crypto.news

Other articles published on Jan 10, 2024

Record-Breaking Achievement in Call of Duty Zombies

The dream of a Bitcoin ETF survives despite the fictitious approval

Was SEC Behind Fake Bitcoin ETF Approval Tweet? Crypto Pundits Weigh In

Bitcoin Exchange Volume Dominance At ATH Levels: What It Means

Bitget Reaffirms Industry-Leading Reserve Strength with Latest PoR Ratio of 175%

Ethereum’s price surges despite the market-wide chaos

Join our free newsletter for daily crypto updates!