WisdomTree and Valkyrie add fee waivers to spot Bitcoin ETF applications

Two more asset managers have temporarily waived fees for their spot Bitcoin ETFs, Bloomberg ETF analyst James Seyffart said on Jan. 9.

Seyffart indicated that WisdomTree will waive its fees for 6 months or the first $1 billion of assets, reducing fees from 0.30% to zero during the waiver period.

How To Get Free Crypto  

He also indicated that Valkyrie Investments will waive its fees for 3 months, reducing its fee from 0.49% to zero during the waiver period.

Each company’s latest S-1 filing indicates that its waiver applies to sponsor’s fees. That term describes fees that the sponsor in this case Valkyrie or WisdomTree collects from the ETF trust in compensation for services performed under the trust agreement and for other sponsor-paid services.

Those waivers also bring Valkyrie and WisdomTree in line with four other ETF applicants that have similarly waived fees: Bitwise, Ark Invest, Invesco, and BlackRock (iShares). All but one of those firms intends to waive fees entirely during the waiver period: only BlackRock maintains a 0.20% fee after the waiver. Five other spot Bitcoin ETF applicants have not announced any waiver.

Spot Bitcoin ETF fees, via James Seyffart and Bloomberg

‘Fee wars’ also slashed regular fees

In addition to introducing waivers, various firms reduced their regular fees in recent days through competitive filings in what was called a ‘fee war.’

Coinbase Banner  

Blackrock, Ark Invest, WisdomTree, and Invesco each reduced or specified their fees in filings on Jan. 8. Grayscale, though its fee is considerably higher than others, also reduced its fee to 1.5% from 2% on Jan. 8.

Many sources expect that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF tomorrow, Jan. 10, and that trading will begin in the coming days. Though approval is not certain, the SEC has engaged extensively with applicants and must decide on Ark Invest’s application tomorrow.

Go to Source
Author: Mike Dalton

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.