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The crypto-native fund manager Bitwise squeaked in with the lowest fee, 0.24%, while the ETF and mutual fund ... its waiver period at 12 months or $5 billion invested. ... process means Grayscale ...
Bryan Armour, an ETF analyst at Morningstar said that Grayscale opted to keep the management fee on its converted ETF at 1.5%, compared with 0.25% for the BlackRock fund and even lower, including ...
The company charged higher than average fees compared to similar exchange-traded funds (ETFs), but said the fees were to cover the costs of trading bitcoin. [6] [7] Grayscale sought to turn GBTC into an ETF in 2017, but voluntarily withdrew the application following negative remarks from the SEC. [8]
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GBTC - which in January received approval to convert from a trust to an ETF - currently has higher fees than its peers, one of the key factors in drawing investors to rival ETFs, Reuters has reported.
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Investors are the biggest winners in fund fee wars but costs should not be the only consideration in selecting ETFs.
The biggest wild card in the mix is Grayscale, whose high fees could quickly erode its early advantages. The new Bitcoin ETF industry can’t have 13 winners. So who will lose?