The ETF is scheduled to begin trading on April 30 and will notably feature a 0% fee.
This makes it an attractive option for both seasoned investors and newcomers to the crypto market. Let’s explore more about this important announcement for BTC ETF.
Launching April 30: Harvest Fund’s Fee-Free BTC ETF
The introduction of this ETF comes at a time when interest in Bitcoin, continues to grow despite the market’s volatility. Harvest Fund’s decision to implement a zero-fee structure is particularly significant. It removes a common barrier to entry for potential investors concerned about the extra costs of traditional investment vehicles.
Typically, ETFs charge management fees that can deter smaller investors or those new to the market. By eliminating these fees, Harvest Fund is positioning its ETF as a more accessible and appealing option, potentially attracting a larger pool of investors.
JUST IN: 🇭🇰 230 billion Harvest Fund’s #BTC ETF will begin trading on 30 April with a 0% fee.
Bitcoin ETF fee wars begin in Hong Kong 👀 pic.twitter.com/zYHYUqyxvq
— Bitcoin Magazine (@BitcoinMagazine) April 24, 2024
More About Bitcoin ETFs
A month ago, Grayscale Bitcoin Trust (GBTC) held a dominant position in the Bitcoin ETF market, accounting for 46% of all Bitcoin held in ETFs. However, recent developments have seen this share decrease to 36%.
GBTC held 46% of all the Bitcoin held in ETFs a month ago.
Today, it's 36%.
The market needs their selling to sustain prices under 100K.
Soon enough, GBTC will plug the leak and stop the outflows. If not, they simply run out of #bitcoin to sell.
Either way 🚀🚀 pic.twitter.com/sPsfLuUXPQ
— Thomas | heyapollo.com (@thomas_fahrer) April 24, 2024
The decrease in GBTC’s market share highlights the evolving nature of the cryptocurrency investment landscape and the increasing competition among funds offering exposure to Bitcoin.
Disclaimer
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