Firms Lower Fees in Final Push Before SEC Verdict, Increasing the Heat in the Bitcoin ETF Race

Major Bitcoin ETF applicants are rushing to make changes to their services, with an emphasis on cost reductions, in anticipation of an upcoming SEC ruling.

 

Before Monday’s last deadline, all of the key participants in the Bitcoin exchange-traded product (ETP) hurried to alter their S-1 forms. On Tuesday, there was a commotion because of a bogus SEC approval post. It was later taken down from the official channel when it was determined to be a hacking incident.

 

As we wait for Wednesday’s ruling, applicants are making changes to their offers, which might affect costs, exemptions, and custodial arrangements.

 

 

 

For the first six months, or until the fund’s assets exceed $1 billion, Bitwise ETF (BITB) is waiving the fee. Then, instead of charging 0.24%, it will now charge 0.20%. In addition to being listed on the NYSE, Coinbase is also recognised as the custodian for the fund.

 

Under the ticker symbol ARKB, ARK 21Shares offers a comparable model. The price will be 0.25 percent once the waiver period ends. As its custodian, Coinbase will ensure its listing on CBOE.

 

 

With a grace period ending on July 31, Fidelity Wise has reduced their cost to 0.25 percent. Custodian is Fidelity, and FBTC will be listed on CBOE.

 

 

 

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More charge reductions are a result of competition

 

 

Reportedly, WisdomTree Bitcoin Trust (BTCW) is providing a 0.30 percent post-waiver return. The six-month grace period or $1 billion in assets is the limit of WisdomTree’s waiver. Once again, Coinbase is the custodian.

 

The Invesco Galaxy Bitcoin ETF, which trades under the symbol BTCO, has $5 billion in assets and a 6-month waiver period. Following this period, BTCO, which is listed on CBOE, will charge 0.39%. For Invesco ETP, Coinbase is also the custodian.

A three-month grace period is all that Valkyrie Bitcoin Fund (BRRR) specifies. After that, a somewhat higher fee of 0.49% will be applied. BRRR will utilise Coinbase as its custodian and be listed on Nasdaq.

 

An income-heavy strategy is what the iShares Bitcoin Trust (IBIT) has settled on. For a 12-month grace period or until it reaches $5 billion in assets, it has established a fee of 0.20%. Following the waiver, the price is 0.30 percent. Coinbase will remain the preferred custodian, and it will be listed on Nasdaq.

 

To be listed on CBOE, VanEck Bitcoin Trust (HODL) will charge a fee of 0.25% without waivers. As the caretaker, Gemini will be in charge.The Franklin Bitcoin ETF (EZBC) is listed on the CBOE and is custodianized by Coinbase. It has a 0.29% fee and no waiver.

 

For the Hashdex Bitcoin ETF, which is listed for the NYSE and is custodied by BigGo, the quoted cost is 0.90% and there is no waiver.

 

Last but not least, Grayscale Bitcoin Trust (GBTC) is notable for its high, non-waiverable fee of 1.5%. At this range, you might encounter a slash. It will utilise Coinbase as its custodian and be listed on the NYSE.

 

The goal of all these files and re-filings is to get a piece of the growing crypto ETP industry. While Coinbase is clearly the favourite, other big names like Fidelity, Gemini, and BitGo are also involved in the custodial arrangements.