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DailyBubble News

Bitcoin ETF war enters end game: BlackRock, Ark cut planned fees

BlackRock and Ark Invest have decided to lower the management fees for their upcoming spot bitcoin ETFs in a bid to attract more investors. BlackRock initially proposed a fee of 0.30% for its iShares Bitcoin Trust, but has since reduced it to 0.25%. They also plan to charge 0.12% for the first 12 months or $5 billion in assets under management, whichever comes first.

Ark Invest, in partnership with 21Shares, has also adjusted the cost of their planned fund from 0.25% to 0.21%. They will also implement a fee waiver for the first six months or $1 billion of fund assets.

Other companies like Bitwise, WisdomTree, Invesco, Galaxy Digital, Fidelity, and Valkyrie have also lowered their fees for their proposed spot bitcoin ETFs in this competitive market. Financial services giant Fidelity, for example, reduced its planned fee from 0.39% to 0.25%.

The Securities and Exchange Commission was expected to make a decision on spot bitcoin ETFs soon, with the possibility of trading starting as early as Thursday. Industry experts believe that fees will be a key factor for investors to consider when choosing between multiple spot bitcoin ETF options.

Overall, the lowering of fees by these companies is seen as a strategic move to attract investors and stay competitive in the growing market of cryptocurrency ETFs.

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