Bitcoin ETF Fee War Erupts as Valkyrie, ARK, 21Shares File Amendments

• Leading Bitcoin ETF-seeking firms submit amended S-1 applications.
• The Bitcoin ETF contenders engage in a fee war, with ARK Invest and 21Shares waiving fees.
• They include Valkyrie, WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares.

Several prominent firms have submitted amended S-1 applications for spot Bitcoin exchange-traded funds (ETFs) as they eagerly await approval from the United States Securities and Exchange Commission (SEC). Asset manager Valkyrie led the charge, followed by contenders including WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares.

The submitted S-1 amendments include crucial details about fees, share prices, and the identities of market makers associated with the prospective ETFs. In its new resubmission, Valkyrie identified Delaware Trust Company as the trustee of the ETF and Coinbase Custody Trust Company as the initial custodian of its Bitcoin. At the same time, Coinbase, Inc., would be the prime broker of the Trust.

Notably, interested parties in Valkyrie’s Bitcoin Fund can acquire solely blocks of 5,000 shares, which cost $21 per share, with each block terme…

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