BTC Soars $47K, BlackRock & These 3 Firms Are Guilty!

<p>&nbsp;"Every day there must be a story about BlackRock, I guess what's going on?"</p><p><br /></p><p>The price of the king of cryptocurrency Bitcoin (BTC) yesterday finally managed to climb up to $47,256 for the first time since April 2022 amid the expected approval of the spot BTC ETF is being discussed more and more.</p><p><br /></p><p>This is because BTC ETF applicants BlackRock, VanEck and WisdomTree have disclosed fees for their proposed ETFs while there is a flurry of filing amended S-1 forms with the Securities and Exchange Commission (SEC).</p><p><br /></p><p>BlackRock reportedly set its fee at 0.2% for the first year or until the ETF reaches $5 billion in assets and after that it will increase it to 0.3% while Wisdom Tree and VanEck opted for fees of 0.5% and 0.25%.</p><p><br /></p><p>Meanwhile, Ark Invest lowered its fee to 0.25% from the 0.8% it previously announced.</p><p><br /></p><p><br /></p><p>According to Eric Balchunas, a Bloomberg Intelligence analyst said that he did not expect BlackRock's 0.3% fee to be cheaper than he had predicted and this meant that other people's lives would be more difficult.</p><p><br /></p><p>Ahead of the SEC's 8 a.m. deadline today, the firms have rushed to file their amended S-1 forms following their amended 19b-4 filings last Friday.</p><p><br /></p><p>On the other hand, Standard Chartered Head of Research Geoff Kendrick predicts that the price of BTC will reach $200,000 by the end of 2025 if the SEC approves the spot BTC ETF as soon as possible.</p><p><br /></p><p>Plus there is a BTC halving event which in turn could cause miners to hoard tokens and a decrease in BTC supply may be triggered, so reduced supply and increased demand could push the price to $100,000 before the end of 2024.</p><p><br /></p><p>As of this writing, BTC price has surged by 6.48% to $46,563 in the last 24 hours with a market cap of $912 billion and a further 3.75% increase over the last week.</p>