BlackRock, Other Potential Bitcoin ETF Providers Reveal Fees
BlackRock, Fidelity, and other applicants for a spot bitcoin exchange-traded fund (ETF) in the U.S. have disclosed their fees as they await approval from the Securities and Exchange Commission. BlackRock's fee will start at 20 basis points for the first 12 months until the fund reaches $5 billion, then increase to 30 basis points. This is lower than the 0.39% predicted by Bloomberg Intelligence’s ETF analyst James Seyffart. Fidelity's fee aligns with Seyffart’s prediction. Invesco and Galaxy will waive their fee for the first six months until their fund reaches $5 billion in assets, after which a fee of 0.59% will apply. ARK and 21Shares announced a fee of 0.25%, the same as VanEck, while Valkyrie set a fee of 0.8% for its ETF. The news led to a 1.8% increase in Bitcoin's value, reaching around $45,000.
