Trading for 11 spot bitcoin ETFs begins Thursday morning after the Securities and Exchange Commission officially approved a wave of applications late Wednesday. Bitcoin surged early Thursday on the news while many of the bitcoin ETFs climbed premarket.
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Issuers ARK Invest (ARKK) and 21Shares, Fidelity, Franklin Templeton, VanEck, WisdomTree, and Invesco and Galaxy Digital are listing their six bitcoin ETFs on the Chicago Board Options Exchange. BlackRock‘s (BLK) iShares Bitcoin Trust and Valkyrie’s Valkyrie Bitcoin Fund will trade on the Nasdaq. Hashdex, Bitwise and Grayscale Investments (GBTC) will list their bitcoin ETFs on the NYSE Arca.
Meanwhile, the issuers disclosed their planned fees for the ETFs in their updated regulatory filings on Jan. 9 and 10, which range from 0.2% to 1.5% excluding waivers. The following table includes ticker, fee and exchange information for each of the bitcoin ETFs launching today.
| Proposed Bitcoin ETF fees as of Jan. 10 (Source: Bloomberg) | |||||
|---|---|---|---|---|---|
| Name | Ticker | Issuer | Fee (after waiver) | Waiver Details | Exchange |
| ARK 21Shares Bitcoin ETF | ARKB | ARK Invest & 21Shares | 0% (0.21%) | 6 months or $1 billion | CBOE |
| Bitwise Bitcoin ETP Trust | BITB | Bitwise | 0% (0.20%) | 6 months or $1 billion | NYSE |
| Fidelity Wise Origin Bitcoin Trust | FBTC | Fidelity | 0% (0.25%) | Until July 31, 2024 | CBOE |
| Franklin Bitcoin ETF | EZBC | Franklin | 0.29% | n/a | CBOE |
| Grayscale Bitcoin Trust (conversion) | GBTC | Grayscale | 1.50% | n/a | NYSE |
| Hashdex Bitcoin ETF | DEFI | Hashdex | 0.90% | n/a | NYSE |
| Invesco Galaxy Bitcoin ETF | BTCO | Invesco & Galaxy | 0% (0.39%) | 6 months or $5 billion | CBOE |
| iShares Bitcoin Trust | IBIT | BlackRock | 0.12% (0.25%) | 12 months or $5 billion | Nasdaq |
| Valkyrie Bitcoin Fund | BRRR | Valkyrie | 0% (0.49%) | 3 months | Nasdaq |
| VanEck Bitcoin Trust | HODL | VanEck | 0.25% | n/a | CBOE |
| WisdomTree Bitcoin Trust | BTCW | WisdomTree | 0% (0.3%) | 6 months or $1 billion | CBOE |
Bitcoin ETF Price Action
Grayscale Bitcoin Trust (GBTC) leapt 4.2% premarket Thursday, adding to its 3.8% gain Wednesday. Grayscale Investments received permission to convert its bitcoin trust into a bitcoin ETF.
Hashdex’s Bitcoin ETF (DEFI) rallied 4.4% Thursday morning. DEFI stock is trading above a profit-taking zone after a late October breakout.
Premarket pricing data was not available for all of the bitcoin ETFs ahead of launch.
Crypto exchange Coinbase (COIN) spiked 4.3% early Thursday. Meanwhile, bitcoin miner Marathon Digital (MARA) rallied 6.3%.
Bitcoin jumped near $47,300 Thursday morning from around $45,700 Wednesday afternoon shortly after the SEC announcement. The crypto fell near $45,500 Wednesday following the Cboe approval news after recovering to around $46,000 intraday.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
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