BlackRock has set a fee of 0.30% for its planned bitcoin exchange-traded fund (ETF). What is interesting is that the fees charged are lower than those charged by some competing companies.
The asset manager most recently disclosed fees for its iShares Bitcoin Trust on Monday. By comparison, Valkyrie Investments and Fidelity charge 0.80% and 0.39%, respectively, for their spot bitcoin ETFs.
The bitcoin ETF race has intensified with more than twenty competitors, including crypto players like Grayscale and traditional financial giants including BlackRock, vying for a share of the crypto market.
Excitement in the investment instrument has fueled a surge in bitcoin prices and helped stabilize confidence in an industry that began to falter following the stock exchange collapse of FTX in November 2022.
The ARK 21Shares Bitcoin ETF, another proposed ETF, was also among those that set a fee of 0.25% on Monday. BTC price recently traded up 1.69% to trade at $45,103.80
