Summary
Franklin Templeton has revealed a fee of 0.19% for its Franklin Bitcoin ETF, undercutting Bitwise’s previous low fee of 0.20%. The firm will also waive the fee until August 2 for up to $10 billion in fund assets. The fund saw trading volumes of around 2.4 million shares on its first day, trailing behind similar offerings by Grayscale, BlackRock, and Fidelity. This fee change comes as fund issuers competed for position before the launch, resulting in fee compression.
Key Points
1. Franklin Templeton now has the lowest spot bitcoin ETF fee, undercutting Bitwise’s previous low mark.
2. Franklin Templeton is waiving the fund fee until Aug. 2 for up to $10 billion in fund assets.
3. The fee change comes as fund issuers competed for position, resulting in fee compression seen as a win for investors.