Factbox-Companies disclose expected fees for spot bitcoin ETFs ahead of SEC decision By Reuters

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<span>© Reuters. FILE PHOTO: A Bitcoin and Dollar notes are seen in this illustration picture taken September 27, 2017. REUTERS/Dado Ruvic/Illustration</span><br />
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<p>(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.</p>
<p>BlackRock (NYSE:), 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.</p>
<p>Their rates were well below the average rate that analysts had anticipated and that even some issuers had indicated would be the range.</p>
<p>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.</p>
<p>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. </p>
<p>Here are the fees disclosed by the companies: </p>
<p>Company Trust/ETF Fees Notes </p>
<p>name disclosed </p>
<p>BlackRock 0.30% Co says fees will </p>
<p>iShares be 0.20% for the </p>
<p> first $5 bln in </p>
<p>Trust assets for 12 </p>
<p>months </p>
<p>Grayscale 1.5% </p>
<p>Investments Grayscale </p>
<p>Bitcoin </p>
<p>Trust </p>
<p>Fidelity 0.39% </p>
<p>Wise </p>
<p>Origin </p>
<p>Bitcoin </p>
<p>Trust </p>
<p>Ark Invest and 0.25% Will waive all fees </p>
<p>21Shares ARK for six months or </p>
<p>21Shares first $1 bln in </p>
<p>Bitcoin assets </p>
<p>ETF </p>
<p>VanEck 0.25% </p>
<p>VanEck </p>
<p>Bitcoin </p>
<p>Trust </p>
<p>WisdomTree 0.50% </p>
<p>WisdomTre </p>
<p>e Bitcoin </p>
<p>Trust </p>
<p>Valkyrie Digital 0.80% Co says it may </p>
<p>Assets Valkyrie temporarily waive </p>
<p>Bitcoin all or a portion of </p>
<p>Fund the fee “at its </p>
<p>discretion for </p>
<p>stated periods of </p>
<p>time” but that it </p>
<p>doesn’t intend to </p>
<p>do that “presently” </p>
<p>Invesco and 0.59% Will waive on first </p>
<p>Galaxy Digital Invesco $5 bln in assets </p>
<p>Galaxy for six months </p>
<p>Bitcoin </p>
<p>ETF </p>
<p>Franklin 0.29% </p>
<p>Templeton Franklin </p>
<p>Templeton </p>
<p>Digital </p>
<p>Holdings </p>
<p>Trust </p>
<p>Bitwise Asset 0.24% </p>
<p>Management Bitwise </p>
<p>Bitcoin </p>
<p>ETF </p>
<p>Hashdex 0.94%* Fees on current </p>
<p>Hashdex product; Co has </p>
<p>Bitcoin filed to convert </p>
<p>Futures bitcoin futures ETF </p>
<p>ETF into a spot bitcoin </p>
<p>ETF </p>
<p>Source: Regulatory filings with the U.S. SEC </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/factboxcompanies-disclose-expected-fees-for-spot-bitcoin-etfs-ahead-of-sec-decision-3269751">Source link </a></p><p>The post <a href="https://forextraderhub.com/factbox-companies-disclose-expected-fees-for-spot-bitcoin-etfs-ahead-of-sec-decision-by-reuters.html">Factbox-Companies disclose expected fees for spot bitcoin ETFs ahead of SEC decision By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>