Ark 21Shares Bitcoin Spot ETF will charge 0.8% management fee

ARK Investment Management and 21Shares became the first major applicants in the United States to announce management fees for Bitcoin spot ETFs. According to documents updated on Monday, the Ark21 Shares Bitcoin ETF will charge a 0.8% management fee. While higher than the 0.54% average fee for U.S.-listed ETFs, the fee is lower than the 0.95% charged by the largest Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF, and well below the 2% charged by Grayscale GBTC. Industry experts say Ark and 21Shares have already kicked off the fee race, with rivals including BlackRock, Invesco and Fidelity Investments competing for their low-cost product lines. A well-known asset management giant. Bloomberg ETF analyst James Seyffart said the fact that Ark and 21Shares updated fees in their filings from 70 basis points to 80 basis points could mean the cost of running the products will be higher than that of some sponsors and issuers. It's even higher than people imagine. Ophelia Snyder, co-founder and president of 21Shares, said: “The ‘inherent complexity’ of U.S.-listed spot products results in the 0.8% fee. While traditional ETFs can use ‘package and bundle’ services such as custody, accounting and management, etc., crypto That's not the case with the product. In fact, almost every part of the crypto product uses different vendors, which does increase operating costs. We think it's a reasonable price to sustain these markets over the long term." (Bloomberg)