Several firms have recently reduced their proposed fees, as revealed in the latest versions of their S-1 forms submitted to the U.S. Securities and Exchange Commission.

This is in response to the ongoing industry competition, amplified by the anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) decision on spot Bitcoin ETFs.

Spot Bitcoin ETF Fee Wars Escalate

As the SEC deadline approaches, various applicants, including Valkyrie, WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, and ARK Invest, have revised their fees to gain a competitive edge.

On a more serious note… here’s all the firms doing the hard work behind the scenes. @Fidelity has lowered their fees all the way down to 25bps and is also offering a fee waiver to 0% through July 31, 2024 pic.twitter.com/Ao0WmICBFh

— James Seyffart (@JSeyff) January 9, 2024

Fidelity has lowered its fees from 0.39% to 0.25% bps and is offering a fee waiver of 0% through July 31, 2024. Bitwise is charging a fee of 0% for the first six months and the first $1 billion in assets, followed by a 0.20% fee.

ARK Invest and 21Shares have also slashed their fees from 0.25% to 0.21%. The company is upholding its zero fees policy for six months or until the total assets reach $1 billion.

BlackRock has adjusted its sponsor fee for its potential spot Bitcoin ETF to 0.25%, a reduction from the previous 0.3%. Additionally, the investment giant has lowered its temporary discount for the first $5 billion of assets in the initial 12 months from launch to 0.12%, down from 0.2%, as stated in the S-1 form filed today.

WisdomTree reduced its fee from 0.5% to 0.30%, with Galaxy Invesco lowering its fee from 0.