The focus of the market is whether the U.S. Securities and Exchange Commission (SEC) will approve the first Bitcoin spot ETF. Eleven issuers, including BlackRock, have filed S-1 amendments with the SEC. Below are the fees and stock codes of each issuer.
Grayscale (Grayscale) – 1.5%, code GBTC
Ark21Shares – Attack the market with 0 management fees in the early stage, until the ETF has been trading for 6 months or the fund size is greater than 1 billion US dollars, A 0.25% fee will be charged, code ARKB
iShares (BlackRock) – an initial management fee of 0.2% will be charged until the ETF has been traded for 12 months or the fund size exceeds US$5 billion, the fee will be increased to 0.3%. Code IBIT
Bitwise – also rushes the market with 0 management fees in the early stage. Until the ETF has been traded for 6 months or the fund size exceeds US$1 billion, a 0.24% fee will be charged, code BITB
VanEck – 0.25%, code HODL
Wisdomtree – 0.50%, code BTCW
Invesco Galaxy – 0 initial management fee until the ETF has been trading for 6 months or the fund size is greater than $5 billion. There will be a fee of 0.59%, code BTCO
Fidelity (Fidelity) – 0.39%, code FBTC
Valkyrie – 0.8%, code BRRR
Hashdex – 0.9%, code DEFI
Franklin (Franklin) – 0.29%, code EZBC
As for the other two issuers, Pando Asset Management and Global Submit an updated S-1 amendment by the deadline.
Currently, it seems that the highest fee is Grayscale (1.5%), which is 7 times more expensive than BlackRock in its early days, but its documents also include A provision regarding fee exemption has not yet been finalized. Bloomberg analyst James Seyffart believes that it would not be surprising to see Grayscale further reduce the fees for spot Bitcoin ETFs; after all, the fees of other issuers are significantly lower. Much more.
In addition to the cost issue, another Bloomberg analyst Eric Balchunas mentioned that taxation will also become an important consideration for many people. He believes that Grayscale GBTC is more beneficial when it comes to taxation issues.
On the other hand, Sui Chung, CEO of cryptocurrency index provider CF Benchmarks, also said in a recent interview: Many people bought GBTC and bet that it would become an ETF. They buy it at a discount, betting that once it becomes an ETF, they can redeem it at NAV and make a profit.
On the other hand, Nate Geraci, president of The ETF Store, an investment advisory company, also said last night that the fees currently announced by issuers of spot Bitcoin ETFs are a huge victory for investors, because some people have said these before Publishers are taking money.
But he also added that low-fee spot Bitcoin ETFs will bring real pressure to cryptocurrency exchanges. The world’s largest asset management companies like BlackRock, coupled with extremely competitive fees, It is likely to become the new leader in the market.
The above is the detailed content of Summary of fees for various Bitcoin spot ETFs: Grayscale fees are up to 1.5%, and Ark and Bitwise are free in the initial stage.. For more information, please follow other related articles on the PHP Chinese website!