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BlackRock Cuts Its Spot Bitcoin ETF Fee To 0.25%

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In a move likely aimed at garnering a competitive edge, BlackRock has reduced the fees for its spot Bitcoin ETF. The world’s largest asset manager originally set fees at 0.30% but has now cut that rate to 0.25% ahead of an anticipated regulatory decision.

With speculation mounting that 2024 could finally be the year for a green light for a Bitcoin ETF, fund providers are jockeying for position. The latest fee revision represents BlackRock’s attempt to make its offering more appealing.

BlackRock slashes Bitcoin ETF fees

According to a recent filing, BlackRock has trimmed the fees for its Bitcoin ETF application to 0.25%. This matches fee proposals from competitors like ARK Invest and VanEck.

Additionally, BlackRock has dropped the discounts during an introductory period. For the first $5 billion in fund assets, the discount will be set to 0.12% for the initial 12 months. 

The revised fee structure aligns with other top ETF contenders, signaling an industry embrace of lower-cost Bitcoin investing options for mainstream investors. 

The fee change comes as expectations for possible SEC decisions reach a fever pitch. There are over a dozen ETF applications under review, but only a few providers are considered front-runners.

BlackRock has stiff competition from established ETF issuers like Valkyrie. VanEck and Fidelity also filed high-profile applications last year that could have their day soon.

With so much on the line, major players are doing everything they can to get an edge. For BlackRock, lowering its proposed fee appears to be the latest strategy.  

The recent fake Bitcoin ETF approval tweet by the US SEC also triggered a sudden market pump and a crash. Nevertheless, the crypto community is awaiting the approval of a Bitcoin ETF.


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