Bitcoin ETF race

Approximately a dozen companies, including financial giants such as BlackRock, Grayscale and Fidelity, had been vying for the establishment of Bitcoin spot ETFs. In the wake of the approval, these companies have announced, and in some instances adjusted, the fees they intend to impose on investors. This development underscores the competitive landscape emerging as firms strive to attract investors.

It is crucial to note that the approved spot ETFs differ from previously authorized Bitcoin futures ETFs, as the former holds actual Bitcoin, while the latter involves derivatives contracts linked to BTC. The approval by the U.S. SEC marks a milestone on a journey that has seen years of delays and outright rejections of numerous attempts to launch spot Bitcoin ETFs.

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