ARK Invest discloses 80 bps fee in spot Bitcoin ETF filing
Experts say Cathie Wood’s company is the first issuer to publicly disclose basis points (bps) fees for its Bitcoin ETF, signaling constructive talks with the U.S. Securities and Exchange Commission (SEC). ARK Invest and 21Shares filed an update to their joint form S-1 application with the SEC for a spot Bitcoin (BTC) ETF amid industry-wide anticipation that America’s premier securities watchdog would approve such products in the coming weeks or months. The amended ARK 21Shares Bitcoin ETF under the ticker ARKB included the fund’s bps fee stated as 80 bps, the first issuer to do so, according to Bloomberg’s Eric Balchunas. “Honestly a bit higher than I expected,” said ETF expert James Seyffart on X, speaking about the expected expense ratios for the basket of spot BTC ETFs in SEC review at press time. There’s a bunch of updates in here. Lot of new risk disclosures (which is to satisfy Corp Fin no doubt). One interesting thing is they sticking to in kind creations redemptions (albe...