The spot Bitcoin ETF hopefuls, including BlackRock, VanEck, and ARK Invest, filed early Monday morning amendments to their respective fund registrations with the Securities and Exchange Commission to disclose their fee structures.

The immediate take away from analysts was that BlackRock’s 0.30% proposed fee is much lower than the industry was expecting, which will make competing against the largest asset manager in the world all the more difficult for every other firm in the running.

Case in point: The Bitwise Bitcoin ETF, ARK 21Shares Bitcoin ETF, and Invesco Galaxy Bitcoin ETF will all launch with 0% fees. Even BlackRock’s iShares Bitcoin Trust will have a 0.20% introductory rate on the first $5 billion before it switches to its 0.30% fee.

Investors have been wanting a spot Bitcoin ETF for the better part of a decade. An exchange-traded product that tracks the real-time price of Bitcoin would allow investors to get exposure to the asset in their portfolios without having to actually buy and hold BTC themselves.

But the issuers aren’t doing all this just as a favor to their clients. The overhead that they’re taking on to make Bitcoin exp

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Author: Stacy Elliott

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