#Fidelity Cuts Bitcoin ETF Fees#
Hot Topic Overview
Overview
Fidelity has slashed fees on its Canadian Bitcoin ETF to 32 basis points, matching the expense ratio of BlackRock's comparable product. This move is seen as a bid to compete with BlackRock's newly launched Bitcoin ETF in Canada, and both firms now boast the cheapest Bitcoin ETFs on the market. The move is considered a competitive action by U.S. issuers in the Canadian market.
Ace Hot Topic Analysis
Analysis
Fidelity has lowered its fees for its Bitcoin ETF in Canada to 32 basis points, in a bid to compete with BlackRock. BlackRock recently launched a Bitcoin ETF in Canada, also charging 32 basis points. This move makes Fidelity and BlackRock’s Bitcoin ETFs the lowest-cost in the Canadian market. The move is seen as a competitive action by U.S. issuers in the Canadian market. Fidelity engaged with users on Reddit to answer questions about its fee reduction. The event suggests that the Canadian Bitcoin ETF market is becoming more competitive, with issuers trying to attract investors by lowering fees.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Fidelity cuts fees on its Canadian Bitcoin ETF to 32 basis points to compete with BlackRock.
Fidelity and BlackRock's Bitcoin ETFs are now the lowest-cost in the Canadian market.
Fidelity's move is likely a bid to compete with BlackRock in the Canadian market.
The US issuer is bringing the competition to the Canadian market.