Grayscale’s 1.5% Fee Is Highest Among Proposed Spot Bitcoin ETFs

As spot Bitcoin ETF hopefuls rush to file their final documents with US regulators, a key difference is emerging among the applicants in their proposed fee structures.

At the top end: The Grayscale Bitcoin Trust, which would carry a 1.5% fee if the US Securities and Exchange Commission approves its conversion into an exchange-traded fund. While that would be lower than GBTC’s current 2% fee, it comes well above its competitors.

The race-to-the-bottom on fees is a feature of the highly competitive $8 trillion US ETF industry, where even a couple of basis points of difference can translate ...