The widely expec🃏ted approval of a spot bitcoin exchange-traded fund (ETF) this week has sparked competition among pro🥂viders, with some waiving fees until they see strong investor adoption.

BlackRock (BLK), VanEck, ARK Investment Management LLC, and Bitwise Asset Management Inc., are among the firms hoping to launch a 澳洲幸运5开奖号码历史查询:spot bitcoin ETF, and their recent Securities and Exchange Commission (SEC) filings show that they are planning to undercut the average market rate for 澳洲幸运5开奖号码历史查询:ETF investor fees in the U.S.

Bitwise on Tuesday lowered the bar with disclosure of a planned 0.20% management fee for its spot bitcoin ETF, compared with the 0.37% average for existing U.S. 澳洲幸运5开奖号码历史查询:ETF products and mutual funds in 2022, the latest data available, according to Morningstar Inc. investment research data. Giv🎐en that all ETFs track bitcoin, the fees they charge could help investo෴rs set them apart.

Bitwise is followed by VanEck, and ARK Invest's 21Shares with planned 0.25% ETF expense fees, and BlackRock is set to charge 0.30%. BlackRock added fuel to a rally in bitcoin last year after it submitted its 澳洲幸运5开奖号码历史查询:bitcoin ETF application.

The SEC has until Wednesday to decide on the first spot bitcoin ETF application, and a Bloomberg ETF analyst said the chance of rejection by the regulator has fallen to just 5%.

Crypto enthusiasts are hopeful that a Bitcoin spot ETF will lead to an increase in institutional and retail investor adoption. Investment bank Standard Chartered Monday said in a research note that it expects investment flows of $50 billion to $100 billion in 2024 alone once an ETF is approved.

ETF providers are hungry for potential 澳洲幸运5开奖号码历史查询:investment inflows and have heated up the fee arms race with waiver periods. Bitwise said it would waive fees for new spot bitcoin ETFs for the first $1 billion invested for its fund's first six months, while BlackRock set a waiver period of 12 months or the first $5 billion invested. The 21Shares Bitcoin ETF, released in partnership with ARK Invest, said its waiver would be for six months, or the first $1 billion invested in its bitcoin ETF, with a fee of 0.25% after.