Bitcoin ETF Applicants Submit Final Amendments to SEC
Several applicants for a spot Bitcoin exchange-traded fund (ETF) have submitted their final Form S-1 amendments to the United States Securities and Exchange Commission (SEC). This sets the stage for a potentially historic week in the cryptocurrency market. Companies such as Bitwise, Valkyrie, WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares have all filed their final amendments. These submissions include important details like fees and potential market makers.
BlackRock and Grayscale Offer Lower Fees
BlackRock and Bitwise are planning to offer the lowest fees for their spot Bitcoin ETFs at 0.30% and 0.24%, respectively. This is a significant reduction compared to their competitors. Valkyrie Investments and Fidelity, for example, will charge fees of 0.80% and 0.39% for their proposed ETFs. The ongoing fee war among applicants has intensified the Bitcoin ETF race and contributed to a surge in Bitcoin prices.
Limited Impact on Competition
Bloomberg ETF analyst Eric Balchunas suggests that the fee war may have limited impact on competition as long-term investors focus more on regular fees. Despite this, Bitcoin’s price is currently above $45,000, up nearly 2% in the last hour and 5% in the last seven days.
Hot Take: Bitcoin ETF Applicants Reveal Fees Ahead of SEC Decision
Multiple applicants for a spot Bitcoin exchange-traded fund (ETF) have submitted their final amendments to the SEC. This week could be historic for the cryptocurrency market as the approval date for the first spot Bitcoin ETFs in the United States is widely expected on January 10. The submissions include crucial details such as fees and potential market makers. BlackRock and Bitwise are offering the lowest fees for their planned ETFs, while Valkyrie Investments and Fidelity have higher fees. The ongoing fee war has intensified the Bitcoin ETF race and contributed to a surge in Bitcoin prices. However, Bloomberg ETF analyst Eric Balchunas believes the impact on competition may be limited as long-term investors prioritize regular fees. Bitcoin’s price is currently on the rise, trading above $45,000.
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