Bitcoin 5 mins chart
For some context, Fidelity is charging a fee of 0.39% and ARK has also dropped their fee to 0.25% just 20 minutes after BlackRock put in their respective filing. BlackRock’s fee structure will actually see 0.20% for the first 6 months or $5 billion and then 0.30% after.
Things are certainly heating up but one can argue that this is to be expected as everyone wants to be the one taking the lead on this. Does this mean that the ETF approval is imminent some time this week? Perhaps, but not a guarantee.
In any case, it’s building more euphoria among Bitcoin players at least for now. But will it be a case of buy the rumour, sell the fact once the ETF actually launches?