TL; DR
Full story
When you hear the term ‘race to the bottom’ it normally suggests that something bad is about to happen…
But in this case it means the opposite!
ICYMI: About 2 weeks ago we wrote about how people without actually benefiting from Bitcoin could to own BTC itself.
One of the options was to buy shares in an Exchange Traded Fund (ETF), the long-awaited investment product that generated a combined trading volume of $4.6 billion when it launched last week.
That is amazing!
But this is what’s cooler:
There is strong competition among the companies hosting these Bitcoin funds.
(And competition between companies = better prices for consumers).
Each of the eleven companies that released a BTC ETF last week are now trying to beat the competition by boasting the lowest fees on the market.
(Some even offer No reimbursements during the first 6 months).
At the time of writing, the best deal you can get is from the Franklin Templeton Bitcoin ETF, with a flat fee of 0.19%, closely followed by ARK with a fee of 0.20%.
So yeah, it sucks to be a Bitcoin ETF issuer right now.
…but that’s great for the investing public.