BlackRock Inc.’s IBIT and Fidelity’s FBTC account for 79% of total inflows into nine Bitcoin ETFs
Bloomberg reported that the strong rise of Bitcoin has led to record inflows of funds into spot Bitcoin ETFs, and has consolidated investors' favor for this new asset class. Among them, BlackRock Inc.'s iShares Bitcoin Trust (IBIT) and Fidelity Investments' FBTC accounted for 79% of the total inflows of nine ETFs. According to Bloomberg's analysis of fund website data, four of the remaining seven funds have reduced their fees to below the level of the two. Valkyrie Investments has almost halved its fees from 0.49% before SEC approval to 0.25%. Franklin Templeton has reduced its initial management fee by 10 basis points and currently has the industry's lowest rate of 0.19%. Only Bitwise has not made any changes.
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