STX - Bitcoin Ethereum Dogecoin Soar As Low-Fee ETF Competition Heats Up: Analyst Says 'Upcoming Bull Cycle Is Likely Going To Be Glorious' | Benzinga
Major cryptocurrencies spiked on Monday evening amid growing anticipation for the approval of a spot-based BTC exchange-traded fund (ETF).
What Happened: The rally occurred as investors eagerly await a regulatory decision for the first spot-based bitcoin exchange-traded funds in the U.S., expected sometime this week.
Most market observers anticipate approval, with bulls predicting that these funds would significantly broaden the investor base for the asset and attract substantial inflows.
Today, major asset management companies like BlackRock, Fidelity, and Grayscale submitted updated S-1 filings to the Securities and Exchange Commission (SEC). Multiple issuers also disclosed the fees they would charge investors.
Two days before the SEC is expected to approve one or more spot Bitcoin ETFs, all potential issuers have disclosed a crucial detail about their product: the fee, and they vary significantly.
Among the 13 proposed ETFs awaiting SEC approval or rejection, the fee they charge is a key factor in setting them apart from one another. Lower fees, calculated as a percentage of the fund’s assets, mean more returns for investors.
Bitwise, a crypto native fund manager, stands out by charging the lowest fee at 0.24% after a 6-month period of no fees. However, some of its rivals are not far behind. Ark and 21Shares plan to ...