Franklin Templeton’s Bitcoin ETF Becomes Cheapest Post 10 Basis Point Cut

• Franklin Templeton Trims Bitcoin ETF Fee, Becomes Market's Least Expensive Option
• Outdoing Bitwise's Rates
• Scheduled Waivers and Fee Reductions
• Bitcoin ETFs' Trading Volume
• More About the Financial Move

Franklin Templeton Trims Bitcoin ETF Fee, Becomes Market's Least Expensive Option

Franklin$0.0015 -3.24% Templeton, a financial firm based in San Mateo, California, has lowered the fee associated with its bitcoin (BTC) exchange-traded fund (ETF), creating the most affordable offering among newly launched investment products. As per a recent filing with the Securities and Exchange Commission (SEC), the Bitcoin$42,260 -0.64% ETF (EZBC) fee has been reduced from 0.29% to 0.19%.

Outdoing Bitwise's Rates

Franklin Templeton's 10 basis-point reduction repositions its fund as the one with the lowest fee, surpassing Bitwise, which previously held the position with a fee of 0.2%.

Scheduled Waivers and Fee Reductions

Up until August 2, 2024, Franklin Templeton has pledged to waive additional charges for its ETF until it accumulates assets under management (AUM) of $10 billion. This announcement came after a series of rapid fee reductions by several providers who are preparing for the imminent competition for market share following the approval of the funds.

Bitcoin ETFs' Trading Volume

On the day of their debut on U.S. exchanges, Bitcoin ETFs registered a trading volume of $4.6 billion. Of this, Franklin Templeton's contribution stood at approximately $65 million.

More About the Financial Move

The reduction in Franklin Templeton's Bitcoin ETF fee follows CoinShares' decision to acquire Bitcoin ETF provider Valkyrie, aiming to strengthen its presence in the U.S. market.

Edited by Jonathan Stoker