The Race to the Bottom: Fee Wars in Bitcoin ETFs

Exploring the competition among asset managers to offer the lowest fees for Bitcoin ETFs, this chapter delves into the potential strategies they may employ to generate revenue with low-fee ETFs, such as attracting advisors and traders and negotiating with custodians. Emphasizing economies of scale and reaching levels comparable to gold ETFs, the chapter also discusses Grayscale's decision not to significantly reduce their fees, risking potential loss of assets under management to their rivals.