BlackRock, Ark Slash Bitcoin ETF Fees Again Ahead of SEC Deadline

BlackRock, Fidelity and other applicants to list a spot bitcoin exchange-traded fund (ETF) in the U.S. revealed their fees as the crypto industry awaits approval from the Securities and Exchange Commission.

BlackRock said in its final S-1 filing that its fee will start at 0.20%for the first 12 months until the fund reaches $5 billion and then settles at 0.30%. The figure is lower than that predicted by Bloomberg Intelligence’s ETF analyst James Seyffart, who said last week he expected BlackRock and Fidelity to charge 0.39%. Fidelity announced fees in line with Seyffart’s prediction. With as many as 13 ETFs possibly set to list in the U.S. in the coming days, providers are seeking ways of differentiating themselves from their rivals and setting enticing fees is one of their main tools in doing so.

As previously reported, Invesco and Galaxy are waiving their fee entirely for the first six months until its fund reaches $5 billion in assets. Thereafter, a fee of 0.59% will apply.