The race to the first approved spot Bitcoin ETF by the United States Securities and Exchange Commission continues in full force.
A number of applicants, including the world’s largest asset manager – BlackRock – have filed amendments to their S-1 registration statements under the country’s Securities Act.
The latest round of changes came today, January 8th. iShares Bitcoin Trust (that of BlackRock), proposed a Sponsor Fee of 0.30%. That fee is charged on the net asset value of the Trust and is payable at least quarterly – in USD.
Reported fees for other ETF applicants include:
- 0.25% for VanEck
- 0.5% for WisdomTree
- 0.25% for Ark/21 Shares – down from 0.8%
Grayscale, however, has gone on another route, with proposed fees of 1.5%. This is significantly higher than the average, which raises the question of whether the company will be competitive.
Recall that the SEC has until January 10th to decide whether or not it will approve applications for a spot Bitcoin ETF.
Analysts and surveys appear torn on whether the decision will be positive. As CryptoPotato recently reported, most financial advisors believe Bitcoin ETFs will be denied, according to a survey sanctioned by Bitwise.
On the other hand, Bloomberg’s Eric Balchunas said Saturday raised the odds of approval to above 90%, while Polymarket speculators bet on an 85% chance of approval.