Jan 8 (Reuters) - A raft of investment managers disclosed the fees they plan to charge for their proposed spot bitcoin exchange-traded funds (ETF), in another step toward approval this week by the U.S. securities regulator. BlackRock, VanEck, Ark Investments/21Shares and Bitwise, among others, said in filings with the Securities and Exchange Commission (SEC) that they expect to significantly undercut the average market rate for U.S. ETFs. Their rates were well below the average rate that analysts had anticipated and that even some issuers had indicated would be the range. A spot crypto ETF would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency. Euphoria around an approval has helped bitcoin, the world's largest and best-known digital asset, rally in recent months. The SEC, which has previously denied all spot bitcoin ETF applications citing potential for fraud, is expected to announce its decision as early as this week. Here are the fees disclosed by the companies: Company Trust/ETF Fees Notes name disclosed BlackRock 0.30% Co says fees will iShares be 0.20% for the Bitcoin first $5 bln in Trust assets for 12 months Grayscale 1.5% Investments Grayscale Bitcoin Trust Fidelity 0.39% Wise Origin Bitcoin Trust Ark Invest and 0.25% Will waive all fees 21Shares ARK for six months or 21Shares first $1 bln in Bitcoin assets ETF VanEck 0.25% VanEck Bitcoin Trust WisdomTree 0.50% WisdomTre e Bitcoin Trust Valkyrie Digital 0.80% Co says it may Assets Valkyrie temporarily waive Bitcoin all or a portion of Fund the fee "at its discretion for stated periods of time" but that it doesn't intend to do that "presently" Invesco and 0.59% Will waive on first Galaxy Digital Invesco $5 bln in assets Galaxy for six months Bitcoin ETF Franklin 0.29% Templeton Franklin Templeton Digital Holdings Trust Bitwise Asset 0.24% Management Bitwise Bitcoin ETF Hashdex 0.94%* Fees on current Hashdex product; Co has Bitcoin filed to convert Futures bitcoin futures ETF ETF into a spot bitcoin ETF Source: Regulatory filings with the U.S. SEC (Reporting by Manya Saini in Bengaluru, Suzanne McGee in New York and Hannah Lang in Washington; Editing by Shounak Dasgupta)
Real-time Crypto 17:52:20 2024-06-22 EDT | 5-day change | 1st Jan Change | ||
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64,279 USD | +0.25% | -2.86% | - | ||
60,055 EUR | +0.12% | -2.85% | - | ||
787.6 USD | +0.61% | +2.37% | 117B | ||
15.4 CAD | -3.21% | +1.99% | 1.39B | ||
15.09 USD | +0.94% | +3.64% | 6.79B | ||
9.67 USD | -2.03% | +2.44% | 1.42B | ||
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- Companies disclose expected fees for spot bitcoin ETFs ahead of SEC decision