BlackRock, Inc (NYSE: BLK) and Ark Innovation ETF (NYSE: ARKK) parent Ark Investment Management have revised their fee structures for their proposed spot bitcoin exchange-traded funds (ETFs), entering a competitive fee war before obtaining approval from the U.S. Securities and Exchange Commission. Bitcoin (CRYPTOO: BTC-USD) is trading at around $45,100 at the time of writing.
BlackRock's iShares Bitcoin Trust lowered its fee from 0.30% to 0.25%, with an additional discount of 0.12% for the first $5 billion of assets in the fund's first year.
Similarly, ARK 21Shares Bitcoin ETF reduced its fee from 0.25% to 0.21%, Reuters reports.
This ...