BlackRock, VanEyck, Visdomtree Disclose Bitcoin ETF Fees in Amended S-1 Filings

Among updated S-1 form filings with the US Securities and Exchange Commission (SEC), Bitcoin ETF applicants BlackRock, VanEyck and Wisdomtree disclosed fees for proposed ETFs.

BlackRock has set the fee at 0.2% for the first year, or until the ETF reaches $5 billion in assets, after which it rises to 0.3%. WisdomTree chose a higher fee of 0.5%, while VanEick chose a fee of 0.25%. VanEyck last week promised 5% of the profits from the proposed ETF by Brink to Bitcoin Core developers.

Ark Invest/21Shares, Invesco and Fidelity also filed amended S-1 forms, with Ark Invest lowering its fee to 0.25% from its previously disclosed 0.8%.

“EFF terrorism is no joke,” Bloomberg Intelligence analyst Eric Balchunas commented on Twitter, adding that BlackRock's 0.3% fee was “much cheaper than predicted.” He added, “Life is very difficult for everyone else.

The companies are scrambling to file their revised S-1 forms before the SEC's deadline of 8 p.m. today, following the filing of revised Forms 19b-4 on Friday.

Bitcoin ETF competition

Although the SEC has historically rejected every spot Bitcoin ETF, the entry of BlackRock—the world's largest asset manager—into the fray in 2023 has sparked renewed optimism that ETF certification may be on the horizon.

In the year In August 2023, the competition gained further momentum following a court victory for Greyscale, when the judge ruled that the SEC should review the Greyscale Bitcoin Trust's application to convert.GBTC) product to place Bitcoin ETF.

The SEC now has a short window before January 10 in which multiple Bitcoin ETF applications can be approved simultaneously.

Bloomberg Intelligence's Balchunas this weekend raised the chances of the SEC approving the Bitcoin ETF position in January to 95%, although crypto forecast market Polymarket showed that market participants are taking a more cautious stance, giving the Bitcoin ETF a chance to be approved on January 15 at 83. %

In a Bitwise poll conducted last week, only 39% of financial advisors surveyed expressed confidence that a Bitcoin ETF would be available to US investors by 2024.