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BlackRock slashes fee to 0.25% for potential spot bitcoin ETF amid 'brutal' competition
BlackRock has dropped its sponsor fee for its potential spot bitcoin ETF from 0.3% to 0.25% in light of growing competition. The investment giant has also reduced its temporary discount from 0.2% to 0.12% for the first $5 billion of assets in the first 12 months from launch, according to an S-1 form filed today. "LOWER: BlackRock has just cut the fee on its spot Bitcoin BTC -2.83% ETF to 0.25% (and 0.12% for the first $5b). They really going for the jugular here, looking to crush the others [before] they even born, just brutal. ARK has also cut to 0.21%. Bitwise [currently] low at 0.20%. Terrordome life," said ... (full story)
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Bitcoin ETF war enters end game: BlackRock, Ark cut planned fees
BlackRock and Ark Invest dropped management fees for their planned spot bitcoin ETFs on Wednesday, the latest moves in a fee war for prospective investors ahead of potential approval. The world’s largest asset manager initially proposed fees of 0.30% (30 basis points) for its iShares Bitcoin Trust, but has since revised that price point down to 0.25%. BlackRock also plans to charge 0.12% (12 basis points) for the first 12 months, or $5 billion in assets under management — whichever comes first. Ark Invest, which filed its spot bitcoin ETF with 21Shares, also adjusted the planned cost of its planned proposed fund, ... (full story)