The crypto investment firm is among a dozen or so asset managers, including traditional finance players such as BlackRock and Fidelity Investments, that are racing to launch the first U.S. spot bitcoin ETFs.
The $27 billion Grayscale Bitcoin Trust, known by its ticker GBTC, is expected to face a fee war if the funds are all approved. Filings show several other providers, such as ARK Investment Management, Fidelity and Invesco, intend to charge fees of less than 1%. BlackRock plans to charge 0.3% for its bitcoin fund, and just 0.2% for the first $5 billion of assets over the first year.
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