BlackRock, Fidelity and a number of other large asset managers that have one Bitcoin (BTC) ETF has revealed trading costs. The Bitcoin exchanges will be rejected soon or approved before January 10th. Following the news, Bitcoin price rose and reached $45,000.
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BlackRock, Fidelity and others disclose trading fees
BlackRock, Fidelity, Ark 21Shares, VanEck, Valkyrie, Invesco and Galaxy have theirs Trading costs disclosed. The trading costs are exchange funds that were applied for months ago by the large companies. The US Securities and Exchange Commission will decide whether to approve or reject it by January 10.
For BlackRock, the following applies in the first 12 months: a Trading Fee of 20 basis points. This corresponds to an amount of 0.20%. After that, trading fees are set at 30 basis points or 0.30%. This amount is lower than the Bloomberg analyst James Seyffart predicted what was expected 0.39%. Fidelity trading costs are up to 0.39%.
Other Bitcoin ETF applicants such as Invesco and Galaxy waive trading fees for the first six months. After that, if your fund is $5 billion, you will incur a 0.59% trading fee. This makes the asset managers among the most expensive on the market despite six months of free trading.
The most expensive Bitcoin spot ETF
The two are surpassed by another asset manager. Valkyrie charges a trading fee of 0.8%, four times higher than BlackRock. If all ETFs are approved, they will be the most expensive of the thirteen.
Ark Invest, led by Cathie Woods, partners with 21Shares. Together they charge 0.25% trading costs for their Bitcoin spot ETF. This makes them the cheapest on the market after BlackRock increased its trading costs.
After the news was announced, the Bitcoin rate Short to $45,000. One Bitcoin currently costs $4,830. That's an increase of 1.5% since yesterday.
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