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NEW YORK – Major asset management firms, including BlackRock (NYSE:) Asset Management and VanEck, recently filed applications with the U.S. Securities and Exchange Commission (SEC) for funds traded in spot exchange (ETF) on the . These ETFs are designed to track the real price of bitcoin, providing investors with a way to gain exposure to the performance of the cryptocurrency without having to hold it directly.
The SEC is expected to announce its decisions regarding these ETFs soon, with the decision on the Ark/21Shares product expected on January 10. In a competitive environment, companies such as Valkyrie, Ark/21Shares and Fidelity compete for investors’ interest by offering competitive fees. Fidelity notably set its fees at 0.39%, positioning itself as an economical choice for potential investors.
The movement to create bitcoin spot ETFs has been gaining momentum, with companies like Grayscale and Hashdex looking to convert existing funds into spot ETFs. This move comes despite the SEC’s historical preference for crypto ETFs linked to futures contracts, which have been the norm until now.
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