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Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide 2022 Best News Website or Mobile Service Digital Media Awards Worldwide 2022 :A raft of investment managers launched the first U.S. spot bitcoin exchange-traded funds (ETF) Jan. 11, in a milestone for the cryptocurrency industry that kicked off a fierce competition for market share. The U.S. Securities and Exchange Commission approved 11 applications for spot bitcoin ETFs from BlackRock , VanEck, Ark Investments/21Shares and Bitwise, among others, on Jan. 10 after a decade-long tussle with the digital asset industry. Most of the ETFs significantly undercut the average market rate for U.S. ETFs, which is 0.54 per cent, according to Morningstar, and several issuers have already slashed fees multiple times. Many are also offering to completely waive fees for a certain period of time, or until their product breaches a certain value of assets under management. Here's where the fees stand for each of the spot bitcoin ETFs that are currently trading: Company ETF Fee after Notes Fee waiver disclosed Franklin Co says it Templeton Franklin 0.19 per cent 0 per cent will waive Templeton fees on Digital first $10 Holdings bln in Trust .K> Bitwise Asset 0.20 per cent Management Bitwise 0 per cent Co says it Bitcoin will waive ETF fees on the first $1 bln in assets 0.21 per cent Ark ARK 0 per cent Will waive Investments 21Shares all fees for and 21Shares Bitcoin six months ETF or first $1 bln in assets BlackRock iShares 0.25 per cent 0.12 per cent Co says fees Bitcoin will be Trust 0.12 per cent for the first $5 bln in assets for 12 months 0.25 per cent VanEck VanEck N/A Bitcoin Trust Co will Valkyrie Valkyrie 0.25 per cent 0 per cent waive fee Digital Bitcoin for 3 months Assets Fund 0 per cent Fidelity Wise 0.25 per cent Co will Origin waive fee Bitcoin until July Trust 31, 2024 WisdomTree Co will wave WisdomTre 0.30 per cent 0 per cent fee for six e Bitcoin months on Trust first $1 bln in assets Invesco and 0.39 per cent Galaxy Invesco 0 per cent Will waive Digital Galaxy on first $5 Bitcoin bln in ETF assets for six months Grayscale 1.5 per cent N/A Converted Investments Grayscale from trust Bitcoin to ETF; fee Trust for trust was 2 per cent Source: Regulatory filings with the U.S. SEC
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