BlackRock, Ark Slash Bitcoin ETF Fees Again Ahead of SEC Deadline
- Issuers are competing to attract investors with low costs
- BlackRock cut shows it’s ‘going for the jugular,’ says analyst
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Competition among prospective Bitcoin exchange-traded fund issuers intensified, as companies further slashed fees in a bid to make products more attractive to investors ahead of a regulator’s decision on their future.
BlackRock Inc. lowered the fee on its proposed iShares ETF by five basis points to 0.25%, according to an updated filing with the US Securities and Exchange Commission on Wednesday. It also lowered its introductory offer on the fund, so that investors will pay a 0.12% fee in the first 12 months or for the first $5 billion in assets, rather than 0.20%.