Fidelity cuts proposed spot Bitcoin ETF fee to 0.25% amid industry fee competition
Fidelity discloses in a recent S-1 filing that is aims to lower the charge for its upcoming Bitcoin ETF to 0.25%. The development marks a significant decrease from the previously set fee of 0.39% announced on Dec. 29. Additionally, Fidelity intends to waive this fee for market participants until the end of July, as stated in the latest filing. U.S. companies vying to launch the initial spot Bitcoin ETFs are engaging in a competitive market by slashing fees ahead of anticipated approval from the Securities and Exchange Commission (SEC). Earlier this week, asset managers, including Bitwise, WisdomTree, Invesco, and Valkyrie, were noted for aggressively reducing fees, as indicated in their recent filings. It is widely expected that spot Bitcoin ETFs will likely be approved by the US financial regulator in the imminent future, with trading widely believed to commence by Jan. 11. You might also like: SEC committee may delay decision on spot Bitcoin ETF Jan van Eck, CEO of VanE...