Issuers of Spot Bitcoin ETFs Enter the Commission Race
The market is heating up, as Spot Bitcoin ETF issuers have submitted updated applications, and now are vying to provide the most attractive commission rates to their clients. Some are introducing lowered or even zero commissions for an initial period of 6-12 months. Other cases involve fees tied to a certain investment threshold.
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The market is heating up, as Spot Bitcoin ETF issuers have submitted updated applications, and now are vying to provide the most attractive commission rates to their clients. Some are introducing lowered or even zero commissions for an initial period of 6-12 months. Other cases involve fees tied to a certain investment threshold.
The current commission rates stand as:
BlackRock — 0.3% and 0.2% for 12 months / $5 billion;
Invesco Galaxy — 0.59% and 0% for 6 months / $5 billion;
WisdomTree — 0.5%;
VanEck — 0.25%;
Valkyrie — 0.8%;
Fidelity — 0.39%;
Ark 21Shares — 0.25% and 0% for 6% / $1 billion.
Grayscale has joined the race with the highest commission rate at 1.5%, while Bitwise has set the lowest at 0.24%. It's likely that Grayscale opted for a higher fee due to its existing client base locked in their GBTC. They might reduce it in the future.
This development has seemingly put centralized crypto exchanges on edge, as they face direct competition and might need to reassess their own commission structures.
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