Wisdomtree Spot Bitcoin ETF Drops Fee To 0.3% In New S-1 Filing

Key Points:

• WisdomTree cuts the WisdomTree spot Bitcoin ETF fee to 0.3% and waives fees on the first $1 billion for six months in anticipation of SEC approval.
• 17 spot Bitcoin ETF filings submitted to SEC in 24 hours; minor amendments by major firms signal a high approval likelihood.

In the midst of mounting anticipation for the United States Securities and Exchange Commission (SEC) to greenlight spot Bitcoin ETF applications, WisdomTree has made significant fee adjustments, as outlined in a fresh S-1 filing.

WisdomTree Spot Bitcoin ETF Strategic Fee Adjusted

The asset management firm slashed the WisdomTree spot Bitcoin ETF fee from 0.5% to 0.3% in the revised document, additionally introducing a waiver for the first $1 billion within six months.

Both WisdomTree and VanEck have successfully listed their offerings on DTCC and await clearance, with VanEck spot Bitcoin ETF adopting the ticker HODL and WisdomTree spot Bitcoin ETF opting for BTCW. Simultaneously, Bitwise’s spot Bitcoin exchange-traded fund (ETF) has sought clearance from DTCC under the ticker BITB.

In the past 24 hours, a flurry of activity has seen 17 updated filings related to spot Bitcoin ETFs submitted to the SEC, leading experts to express confidence in high approval odds.

Several spot Bitcoin ETF issuers, including BlackRock, Valkyrie, ARK 21Shares, Grayscale, and Invesco Galaxy, have filed amended S-1 and S-3 forms after constructive feedback exchanges with the SEC. Outstanding amendments are expected by Jan. 9, preceding a decision deadline on Jan. 10.

Minor revisions filed on Jan. 9 encompassed new language on authorized participant risk, counterparty insolvency, potential conflicts of interest, and temporary liquidity shortages. Notably, Bitwise, Invesco Galaxy, Wisdomtree, and Valkyrie also adjusted their fees downward in response to the edits.

The public statements from SEC Chair Gary Gensler have further fueled optimism for approval, as he provided crypto-related investor advice for the second consecutive day, reinforcing the industry’s hopeful outlook.