#Fidelity Cuts Fees on Bitcoin ETF#
Hot Topic Overview
Overview
Fidelity has slashed the fees on its Canadian Bitcoin ETF to 32 basis points, matching the fees of BlackRock's equivalent product and making it one of the cheapest Bitcoin ETFs on the market. The move is seen as a response to BlackRock's launch of a Bitcoin ETF in Canada, highlighting the growing competition in the Canadian market from U.S. issuers.
Ace Hot Topic Analysis
Analysis
Fidelity has cut fees on its Canadian Bitcoin ETF to 32 basis points, matching the fees charged by BlackRock’s recently launched Canadian Bitcoin ETF. The move brings Fidelity and BlackRock’s Bitcoin ETF fees to the lowest in the market. Fidelity's move is an attempt to compete with BlackRock, bringing competitive action to the Canadian market, according to Bloomberg ETF analyst Eric Balchunas. This move by Fidelity shows that the Bitcoin ETF market is competitive, with issuers looking to lower fees to attract investors.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Fidelity cuts Canadian Bitcoin ETF fees to 32 basis points, matching BlackRock's fees.
Fidelity and BlackRock's Bitcoin ETFs are now the lowest-cost on the Canadian market.
Fidelity's move is likely to be a response to competition from BlackRock, and to attract more investors.
Fidelity's move could spark a competitive response from US issuers in the Canadian market.