all41author Earlier this week, Bitcoin reached its all-time high, and spot Bitcoin ETFs hit a new record by attracting more than $1 billion in net inflows.
Spot Bitcoin ETFs are investment vehicles that invest in Bitcoin, offering investors a more secure and accessible way to gain exposure to its price movements. Their approval by U.S. regulators in January 2024 is seen as a merger of traditional financial institutions with digital assets. Check out these slides of the available spot Bitcoin ETFs.
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BlackRock, the world’s largest asset manager with $10 trillion in assets under management, is a prominent leader in the exchange-traded fund industry. It launched iShares Bitcoin Trust (NASDAQ: IBIT) in January 2024, which recently saw a record $849 million inflow. Currently, it holds 204,000 Bitcoin, worth around $15 billion at current prices.
The iShares Bitcoin Trust has implemented a fee waiver scheme to reduce the initial investment cost and entice more investors. For the first 12 months of trading or until the fund assets reach $5 billion (whichever comes first), the annual fee will be only 0.12%. Following that period, the fee will increase to 0.25%, which is roughly in line with other competitors.
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Fidelity Investments is one of the largest providers of workplace retirement plans, covering 23 million 401(k) participants. After allowing investors to put their money in Bitcoin for their 401(k) retirement plan, the financial giant has entered the spot Bitcoin ETFs market.
The Fidelity Wise Origin Bitcoin ETF (NYSE: FBTC) has a 0.25% fee, but Fidelity is currently waiving the fee until Aug. 1, 2024. It holds over 128,000 Bitcoin, which is around $9 billion.
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ARK 21Shares’s Bitcoin ETF ARK (NYSE: ARKB) holds 38,000 Bitcoin worth $2 billion. It offers a fee waiver for the first six months of trading or until the fund reaches $1 billion in assets. After that, the expense ratio is 0.21%.
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Grayscale, the world’s largest crypto asset manager, was one of the first companies to offer bitcoin in a mutual fund-like product. However, this product was a topic of dispute with the SEC. After the SEC approved U.S.-listed ETFs tracking bitcoin, Grayscale converted its $27 billion bitcoin trust spot bitcoin ETF, also known as Grayscale’s Bitcoin Trust ETF (NYSE: GBTC). It charges an annual fee of 1.5%, which is considerably higher than other funds.
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VanEck, a $90 billion investment management firm, is a trusted name that jumped into the spot Bitcoin ETF this year. Earlier this month, it temporarily waived the management fee on its Bitcoin Trust (HODL), reducing it from 0.2% to 0% until March 2025, or when the fund reaches $1.5 billion in assets.
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But wait, there’s more — some other options to consider:
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