BlackRock sets lower fee for spot bitcoin ETF compared to peers
BLACKROCK has set a fee of 0.3 per cent for its planned spot bitcoin exchange-traded fund (ETF), which is notably lower than those charged by some peers.
The asset manager disclosed the fee for its iShares Bitcoin Trust on Monday (Jan 8). In comparison, Valkyrie Investments and Fidelity are charging fees of 0.8 and 0.39 per cent, respectively, for their planned spot bitcoin ETFs.
The bitcoin ETF race has heated up with more than a dozen participants, including crypto natives such as Grayscale and traditional finance heavyweights including BlackRock, vying for a slice of the market share.
Euphoria around the investment vehicle has propelled the price of bitcoin and helped shore up confidence in the industry that was rattled by the FTX meltdown in November 2022.
ARK 21Shares Bitcoin ETF, another proposed ETF, also set a fee of 0.25 per cent on Monday. REUTERS
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