BlackRock sets lower fee for spot bitcoin ETF compared to peers

Jan 8 (Reuters) - BlackRock (BLK.N) has set a fee of 0.30% for its planned spot bitcoin exchange-traded fund, which is notably lower than those charged by some peers.

The asset manager disclosed the fee for its iShares Bitcoin Trust on Monday. In comparison, Valkyrie Investments and Fidelity are charging fees of 0.80% and 0.39%, respectively, for their planned spot bitcoin ETFs.

The bitcoin ETF race has heated up with more than a dozen participants, including crypto natives such as Grayscale and traditional finance heavyweights including BlackRock (BLK.N), vying for a slice of the market share.

Euphoria around the investment vehicle has propelled the price of bitcoin and helped shore up confidence in the industry that was rattled by the FTX meltdown in November 2022.

ARK 21Shares Bitcoin ETF, another proposed ETF, also set a fee of 0.25% on Monday.

Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

BlackRock sets lower fee for spot bitcoin ETF compared to peers

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio