Fidelity Reduces Proposed Spot Bitcoin ETF Fee to 0.25 Percent Amid Fee Competition

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Last Updated on January 10, 2024 by Bitfinsider

Fidelity intends to reduce the cost for its proposed spot bitcoin exchange-traded fund (ETF) to 0.25% in a subsequent filing, according to a revised S-1 form published Tuesday.

Fidelity earlier reduced their charge to 0.39% on December 29. The corporation intends to waive the cost for market participants until July 31, according to the paper.

U.S. competitors for the first line of spot bitcoin ETFs have been trying to entice the market by decreasing costs in anticipation of eventual SEC approval. According to earlier this week’s disclosures, asset managers Bitwise, WisdomTree, Invesco, and Valkyrie raced to the bottom in terms of costs.

It is generally assumed that the United States’ banking regulator will make its conclusion on Wednesday. Jan van Eck, CEO of spot bitcoin ETF applicant VanEck, told CNBC on Tuesday that he expects his company’s proposed fund to start trading on Thursday.

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