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Normally when you hear the term “race to the bottom,” it suggests something bad is about to happen…
But in this case, it means the opposite!
ICYMI: About 2 weeks ago we wrote about how people could benefit from Bitcoin without actually owning BTC themselves.
One of the options was to purchase shares in an Exchange Traded Fund (ETF), the long awaited investment product that racked a collective $4.6B in trading volume at launch last week.
Which is awesome!
But, here’s what’s cooler:
There’s strong competition between the firms that host these Bitcoin funds.
(And competition between businesses = better prices for consumers).
Each of the 11 firms that issued a BTC ETF last week are now looking to beat out their competition by boasting the lowest fees on the market.
(Some are even offering no fees for the first 6 months).
As of this writing, the best deal you can get is from the Franklin Templeton Bitcoin ETF, which a fixed fee of 0.19%, followed closely by ARK with a fee of 0.20%.
So yeah, sucks to be a Bitcoin ETF issuer right now.
…but that’s a great thing for the investing public.
