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Bitcoin

BitWise Spot Bitcoin ETF Now Registered With Lowest Fee At 0.24%

January 8, 2024 - Around 2 mins mins to read

Key Points:

  • Bitwise spot Bitcoin ETF will be filed with a groundbreaking 0.24% fee, the lowest in the market.
  • Major players, including Grayscale and BlackRock, finalize Bitcoin ETF filings with reduced fees, intensifying the market race.
  • With submissions completed, the SEC is expected to make crucial spot Bitcoin ETF decisions by January 10, shaping the industry landscape.
Bitwise has taken a strategic step in the competitive landscape of Bitcoin exchange-traded funds (ETFs) by submitting an updated version of the Bitwise spot Bitcoin ETF S-1 application.
BitWise Spot Bitcoin ETF Now Registered With Lowest Fee At 0.24%

Bitwise Spot Bitcoin ETF Unveils Game-Changing with Record-Low Fees

Notably, the Bitwise spot Bitcoin ETF fee is set at a record low of 0.24%, with the first six months offered for free, making it the most cost-effective option in the market.

As the deadline for submitting updated Bitcoin spot ETF files to the US Securities and Exchange Commission (SEC) has passed, major players like Grayscale, Ark/21Shares, BlackRock, VanEck, WisdomTree, Invesco, Fidelity, Valkyrie, and Franklin have all submitted their revised S-1 forms. Hashdex stands as the only exception, having yet to submit its updated filing.

The anticipation surrounding the SEC’s decision on the spot Bitcoin ETF remains high, with multiple applicants. Among these amendments, many applicants have revised their fees downward, intensifying the competition in the ETF market.

Bloomberg market analyst Eric Balchunas noted the significant drop in ARK and 21Share’s fees from 0.80% to 0.25%, describing it as “breathtaking.” BlackRock set its fee at 0.20% for the first 12 months or until the first $5 billion, increasing it to 0.30% thereafter. Other issuers, such as Valkyrie and Hashdex, have set relatively higher fees at 0.8% and 0.9%, respectively.

With fees largely sorted out and applications submitted, the SEC now faces the task of evaluating the 19b-4 forms. The crypto industry expects decisions to be announced by January 10th, potentially signaling a wave of approvals or rejections. The market awaits these decisions eagerly as issuers strive to establish a foothold in the competitive Bitcoin ETF landscape.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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BitWise Spot Bitcoin ETF

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Spot Bitcoin ETF

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.