Fidelity plans to lower the fee for its proposed spot bitcoin exchange-traded fund (ETF) to 0.25% in a refiling, according to a revised S-1 form submitted Tuesday. 

Fidelity previously marked its fee to 0.39% on Dec. 29. The company plans to also waive the fee for market participants until July 31, according to the document. 

U.S. contenders in pushing out the first line of spot bitcoin ETFs have been competing to attract the market by lowering fees upon the looming potential approval from the Securities and Exchange Commission. Asset managers such as Bitwise, WisdomTree, Invesco and Valkyrie raced to the bottom for fees as per their filings earlier this week. 

It is widely expected that the U.S. financial regulator will announce its decision on Wednesday. Jan van Eck, …