Bitcoin ETF Applicants Reveal Fees in Latest Filings Ahead of SEC’s Key Decision This Week

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Multiple applicants for a spot Bitcoin exchange-traded fund (ETF) submitted their final Form S-1 amendments to the United States Securities and Exchange Commission (SEC) on Monday, setting the stage for a potentially historic week in the cryptocurrency market.

Bitwise, Valkyrie, WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares all filed their final S-1 amendments. The submissions, made in anticipation of the widely expected approval date for the first spot Bitcoin ETFs in the United States on January 10, include crucial details such as fees and the identities of potential market makers.

The US SEC is expected to approve spot Bitcoin ETF this week, allowing world’s largest asset managers to access Bitcoin.

BlackRock, Grayscale Lower ETF Fees

Notably, BlackRock is offering the lowest fee of 0.30% for its planned spot Bitcoin ETF, marking a significant reduction compared to some peers.

Valkyrie Investments and Fidelity, for instance, are charging fees of 0.80% and 0.39%, respectively, for their proposed spot Bitcoin ETFs.

The Bitcoin ETF fee war has sharp elbows. @BitwiseInvest is in and they are at 0.24% and are waiving the fee for 6 months and the first $1 billion in assets. https://t.co/JE1PkY9W5Cpic.twitter.com/kF7zjNHIsu

— James Seyffart (@JSeyff) January 8, 2024

The Bitcoin ETF race, featuring over a dozen participants ranging from crypto natives like Grayscale to traditional finance heavyweights like BlackRock, has intensified, contributing to a broader surge in Bitcoin prices.

Despite the ongoing fee war among applicants, Bloomberg ETF analyst Eric Balchunas suggests that the impact on competition may be limited, emphasizing the enduring focus of long-term investors on regular fees.

At the time of writing, Bitcoin is changing hands at just above $44,800, nearly 2% up in the last hour and 5% in the last seven days.

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