Bloomberg analyst James Seyffart said seven of the 10 forthcoming ETFs had introduced fee waivers, with some even waiving fees entirely for six to 10 months, indicating that these issuers have high expectations for competition, which will be a battle to raise assets.
Seyffart added that a number of issuers competing with Ethereum have gone through a similar ordeal, with their bitcoin funds launching earlier this year. Data compiled by Bloomberg shows that these ETFs attracted a lot of attention when they debuted in January, receiving a total of $16.50 billion in net inflows. BlackRock's bitcoin ETF stands out, with its ticker symbol IBIT and current asset size of around $21 billion.
Bloomberg analyst: 7 out of 10 upcoming ETFs have introduced fee reductions
2024-07-18 00:54:52
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