Blackrock, Ark, WisdomTree and Invesco Update Bitcoin ETF Filings and Fees

By: Isha Das

Several heavyweight institutions, Blackrock, Ark, WisdomTree, and Invesco Galaxy, have updated their SEC S1 filings around the same time on Jan 8. This is part of the race to secure the premiere spot for the first spot Bitcoin ETF in the United States.

Ark has cut their fee from 0.8% to 0.25%, and has also proposed waiving the contribution fee for the first six months or for the initial $1B in competition with other potential Bitcoin ETF issuers. Blackrock intends to introduce a relatively low 0.3% fee, providing a 0.2% fee for the first twelve months and $5 billion in funds as a promotional offering. This 0.2% offer marks the lowest fee among all applicants at this stage.

The Invesco Galaxy ETF, to be listed under the ticker BTCO, will impose a 0.59% fee and has reportedly seeded around $4.8 million in Bitcoin so far. WisdomTree, on the other hand, will be charging fees of 0.5% and has seeded $2.5 million to date.

In separate news, ARK Invest continues its ETF rebalancing with a $20.6M sale in Coinbase, as part of a strategy to keep no individual stock from exceeding 10% of an ETF's value.