United

Bitcoin ETF

<ul>
 <li>The crypto industry is expecting the SEC to approve a spot bitcoin ETF as soon as today.</li>
 <li>BlackRock said in a fresh S-1 filing on Wednesday that it would charge 25 basis points.</li>
</ul>
Both BlackRock and ARK 21Shares have reduced the fees for their prospective exchange-traded funds (ETFs), following other competitors who announced cutbacks yesterday. The crypto industry is expecting the United States <a href="https://thenewscrypto.com/u-s-senators-demand-sec-to-disclose-twitter-hack-details/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> to approve a spot bitcoin ETF as soon as today.
After revealing a fee of 30 basis points on Monday, <a href="https://thenewscrypto.com/blackrock-reportedly-plans-3-workforce-cut-amidst-etf-pursuit/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a> said in a fresh S-1 filing on Wednesday that it would charge 25 basis points on net asset value. A promotional rate of 12 basis points is being offered on the first $5 billion during the first twelve months of the asset-management giant’s debut.
<h3 class="wp-block-heading" id="h-gaining-edge-over-rivals">Gaining Edge Over Rivals</h3>
Following an earlier announcement that it would charge 0.25%, ARK 21Shares also made a cut, bringing it down to 0.21%. For the first six months or $1 billion in assets, whichever occurs first, the fee will not be charged by the businesses at all.
Bitwise and <a href="https://valkyrieinvest.com/" target="_blank" rel="noopener noreferrer nofollow">Valkyrie</a>, other two competitors, both announced price reductions yesterday; today’s reductions follow suit. Bitwise still has the lowest charge, even with today’s decrease.
In Tuesday’s round, the fund manager cut its starting price from 0.24% to 0.20%. Fidelity currently charges 0.25%, <a href="https://www.wisdomtree.com/" target="_blank" rel="noopener noreferrer nofollow">WisdomTree</a> 0.3%, and Valkyrie 0.49%. The planned fees were reduced by Invesco and Galaxy to 0.39 percent.
Various providers will compete for market share, using fee structure as an edge, as the SEC is anticipated to approve many ETFs simultaneously.
All indications are pointing toward a decision being announced today, despite yesterday’s disruption to the SEC’s clearance of a spot bitcoin ETF due to a hack of its twitter account and the release of a fraudulent approval tweet.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/ethereum-whale-scoops-up-11-million-eth-as-price-surge-past-2400/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Whale Scoops Up $11 Million ETH As Price Surge Past $2,400</a>

BlackRock and ARK 21Shares Slash Spot Bitcoin ETF Fees

Table of Contents

TheNewsCrypto

Other articles published on Jan 10, 2024

XRP Fails to Overcome Bearish Momentum as Price Tumbles

Breaking: U.S SEC takes down spot Bitcoin ETF approval announcement, again

Bitcoin price dips as SEC denies approving spot ETF

X confirms the SEC’s account was hacked

Breaking: SEC Officially Approves Spot Bitcoin ETFs, BTC Price Unfazed

Core Mobile now supports Avalanche staking

Join our free newsletter for daily crypto updates!