Major Spot Bitcoin ETF Issuers File Amended S-1 Forms, Fees Revealed

Major players including BlackRock, Ark Invest/21Shares, VanEck, WisdomTree, Invesco, Fidelity, and Valkyrie have filed amended S-1 forms for spot bitcoin ETF with the US SEC. This marks the final step in the approval process and sets the stage for a potentially historic week in the world of Bitcoin investments.

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Sponsor Fees Revealed in Amended Filings

In a noteworthy disclosure, some of the sponsor fees have been revealed in the amended filings, shedding light on the financial structures underpinning these potential spot bitcoin ETFs. BlackRock has set its sponsor fee at 0.3%, with a reduced rate of 0.2% for the first year or until the ETF reaches $5 billion in assets.

VanEck has opted for one of the lowest permanent fees among issuers at 0.25%, while WisdomTree has chosen a higher 0.5% fee. ARK Invest and 21Shares will waive their 0.25% fee for the first $1 billion in transactions, according to their latest S-1 filing. Notably, Grayscale has lowered its fee from 2% to 1.5%. 

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SEC Deadline and Expectations

The Securities and Exchange Commission (SEC) faces a January 10 deadline to rule on a specific spot bitcoin ETF proposed by Ark Invest and 21Shares. Analysts anticipate that the SEC could issue decisions on multiple ETFs simultaneously, preventing any single issuer from gaining a first-mover advantage.

Industry watchers had initially pinpointed a decision window between January 8 and January 10, given certain moves by the SEC to collect public feedback on planned ETFs until January 5. 

Bloomberg Intelligence analyst James Seyffart has reiterated his estimate of an SEC decision next week, contributing to the heightened anticipation surrounding potential historic approvals.