ARK Invest is the first asset manager to announce a Bitcoin ETF fee for its offering, as we can see more on our latest Bitcoin news today.

When ARK Investments, as Cathie Wood’s New York-based investment firm, filed for a Bitcoin ETF a week ago, it hoped to join the ranks of several other US companies and persuaded the Securities and Exchange Commission to launch an ETF tracks the price of bitcoin. However, one thing about the application stands out from the crowd, making Ark Invest, as the Financial Times reports, the first asset manager to reveal the actual fees for the proposed Bitcoin ETF offering.

According to a disclosure form filed with the SEC, Ark Invest has partnered with Switzerland-based ETF provider 21shares AG to offer a Bitcoin ETF ARK 21 Shares, which will be traded on Cboe’s bZX exchange after approval, according to ARKB. Additionally, the filings indicate that 21Shares will later have to pay an expected 0.95% fee to the company in order to use the money to cover operating costs.

Neena Mishra, director of ETF research at Zacks Investment Research, says that since the Bitcoin ETF proposed by Ark already has a large market, it means that competitors want to adjust or lower cost ratios and start the war in space. Both Arks Innovation and the Next Generation Internet ETF hold shares in the Coinbase exchange, which has been selected to provide custody services for the proposed ETF. According to Mishra, this means that if the offering is approved, both funds will be the first large shareholders with even more free investments in the product.

An exchange traded fund is an exchange traded fund that tracks the price of an underlying asset. In the case of a Bitcoin ETF, it offers institutional investors the opportunity to get involved in BTC without having to buy real estate. Bitcoin ETFs are available to investors in countries like Brazil and Canada, but their US counterparts are waiting for the product to arrive as the SEC has so far denied all requests. The committee reviews Bitcoin ETF submissions from companies like VanEck, Skybridge Capital, WisdomTree, and Kryptoin.

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