Published on January 10, 2024 15:01 GMT+00:00edited on January 10, 2024 15:04 GMT+00:00

Multiple spot bitcoin ETF applicants have been slashing their fees in recent days as the competition intensifies ahead of anticipated approval from the Securities and Exchange Commission.

BlackRock dropped its sponsor fee for its potential spot bitcoin ETF from 0.3% to 0.25% in light of the growing competition. It also reduced its temporary discount from 0.2% to 0.12% for the first $5 billion of assets in the first 12 months from launch, according to BlackRock’s latest amended S-1 form.

Ark Invest/21Shares also cut its fee from 0.25% to 0.21% and is maintaining its zero fees for the first six months or until $1 billion in assets, per its latest S-1 form.

Yesterday, multiple other applicants slashed their fees after a clearer picture of the competition’s charges began to emerge on …