Bitcoin fund fees tumble amid ‘crypto winter’
— Products, Realise, Effort, Two months, Overexposed, Etps, Investment research group new constructs — 1 min read
21Shares' new listed security comes with a total expense ratio of just 0.21 per cent. That is below the last round of cost cutting when companies such as Fidelity and Global X offered products tied to bitcoin at between 0.4-0.7 per cent. It is also an ocean away from the 1.49 per cent fee levied by 21Shares’ existing flagship Bitcoin ETP (ABTC) Unlike some rivals, it will be able to lend out some of its inventory of bitcoins and probably would do so to help it earn a profit despite the low fees. The launch comes amid a painful sell-off for all things crypto, with the price of bitcoin down 70 per cent from its November highs to $19,430. Source