The anticipation of a spot bitcoin ETF approval by the Securities and Exchange Commission has the crypto community on edge. This decision, expected on Wednesday, could mark a significant milestone in the world of cryptocurrency investing.
With multiple spot bitcoin ETFs vying for attention, investors are eagerly awaiting details on how these ETFs will trade, their associated costs, and how they will impact the broader market. The competition for investor dollars has already sparked a modest price war among issuers, with some offering zero fees for the first six months to attract buyers.
Here is a breakdown of some of the spot bitcoin ETFs and their associated fees:
– Bitwise (BITB): 0.0% (after first six months: 0.2%)
– ARK Invest/21Shares (ARKB): 0.0% (after first six months: 0.21%)
– Invesco Galaxy Bitcoin ETF (BTCO): 0.0% (after first six months: 0.39%)
– iShares Bitcoin Trust (IBIT): 0.12% (after first 12 months: 0.25%)
– VanEck Bitcoin Trust (HODL): 0.25%
– Franklin Bitcoin ETF (EZBC): 0.29%
– Fidelity Wise Origin Bitcoin Trust (FBTC): 0% (after July 31, 2024, 0.25%)
– WisdomTree Bitcoin Trust (BTCW): 0.0% (after first six months 0.3%)
– Valkyrie Bitcoin Fund (BRRR): 0.0% (after three months 0.49%)
– Grayscale Bitcoin Trust (GBTC): 1.5%
– Hashdex Bitcoin (DEFI): 0.9%
In addition to fees, investors are also curious about how these ETFs will track bitcoin and bitcoin futures, as well as whether they will trade at a premium or discount to their net asset value. While some expect minor premiums, others believe these ETFs will trade efficiently and attract significant inflows of new capital once trading begins.
The potential approval of a spot bitcoin ETF has already had a noticeable impact on the price of bitcoin, and industry experts are eager to see how this decision will shape the future of cryptocurrency investing. Stay tuned for updates on this developing story.
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