FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo
(Reuters) - BlackRock has set a fee of 0.30% for its planned spot bitcoin exchange-traded fund, which is notably lower than those charged by some peers.
The asset manager disclosed the fee for its iShares Bitcoin Trust on Monday. In comparison, Valkyrie Investments and Fidelity are charging fees of 0.80% and 0.39%, respectively, for their planned spot bitcoin ETFs.
The bitcoin ETF race has heated up with more than a dozen participants, including crypto natives such as Grayscale and traditional finance heavyweights including BlackRock, vying for a slice of the market share.
Euphoria around the investment vehicle has propelled the price of bitcoin and helped shore up confidence in the industry that was rattled by the FTX meltdown in November 2022.
ARK 21Shares Bitcoin ETF, another proposed ETF, also set a fee of 0.25% on Monday.
(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)
