Bitcoin

Grayscale Bitcoin ETF Fee is 1.5%, Highest Among Bitcoin ETF Issuers

Key Points:

  • Grayscale aims for a 1.5% fee in the Grayscale Bitcoin ETF, with JANE STREET and MACQUARIE among key players.
  • Despite Grayscale’s fee drop from 2%, competitors like Fidelity, BlackRock, Bitwise, and others offer even lower expense ratios.
  • SEC’s imminent vote could pave the way for swift ETF trading, intensifying the competition among financial giants for a foothold in the Bitcoin ETF market.
Grayscale has submitted a revised S-3 document detailing the Grayscale Bitcoin ETF with a set fee of 1.5%.
Grayscale Bitcoin ETF Fee is 1.5%, Highest Among Bitcoin ETF Issuers 2

Grayscale Bitcoin ETF Fee Set at 1.5%, Key Players Revealed

Designating JANE STREET, VIRTU, FLOW TRADERS, and FLOWDESK as liquidity providers and JANE STREET, VIRTU, MACQUARIE, and ABN AMRO as authorized participants, the Grayscale Bitcoin ETF awaits approval from the US Securities and Exchange Commission.

Compared to Grayscale Bitcoin Trust’s (GBTC) current 2% fee, the proposed 1.5% fee remains higher than its competitors. Despite GBTC’s advantage of $27 billion in assets since 2013, Bloomberg reports that rival ETFs offer significantly lower expense ratios.

Fidelity, a financial services giant, proposed the most economical fee at 0.39% of the ETF’s net asset value. In contrast, Grayscale, Ark/21Shares, BlackRock, VanEck, WisdomTree, Invesco, Fidelity, Valkyrie, and Franklin have presented lower fee structures in recent filings.

BlackRock, the world’s largest asset manager, plans to charge 0.20% for the first $5 billion of the iShares Bitcoin Trust’s assets, followed by 30 basis points. Bitwise offers a 24 basis point fee with an initial waiver on the first $1 billion of trust assets, while Ark Invest and 21Shares propose a 25 basis point fee with a similar waiver.

VanEck and Franklin Templeton beat Fidelity’s fee, standing at 25 and 29 basis points, respectively, according to Monday filings, without intending to waive any fees. The SEC is expected to vote on the exchanges’ filings (19b-4s) in the coming days, potentially leading to ETF trading as soon as the next business day if both sets of required approvals are granted.

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.

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

24 mins ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

24 mins ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

3 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

5 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

8 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

9 hours ago

This website uses cookies.