Bitcoin ETFs with a US$100bil promise put old funds in danger

Fee wars: A bitcoin automated teller machine kiosk in Barcelona, Spain. Spot funds may offer compelling reasons of their own, including potentially much lower fees than what the current futures-ETF line-up charges. — Bloomberg

NEW YORK: Spot bitcoin exchange-traded funds (ETFs) haven’t even been approved in the United States, and yet already some see them as an existential threat to the futures-based funds that came before them.

BlackRock Inc leads a group of firms awaiting word from regulators on their filings to launch what would be the first US ETFs linked to the spot price of the largest cryptocurrency.