Since its debut on U.S. exchanges on Thursday, Franklin Templeton’s bitcoin (BTC) exchange-traded fund (ETF) has the lowest cost of all the new investment products.The fee charged by San Mateo, California-based Franklin Templeton for its Bitcoin ETF (EZBC) has been lowered from 0.29% to 0.19%, as per a document submitted on Friday to the Securities and Exchange Commission (SEC).Franklin Templeton’s 10 basis-point drop makes its fund’s fee the lowest, replacing that of Bitwise, which charges 0.2%.
Till Aug. 2, 2024, the fund manager will also waive off fees for its ETF till the fund hits assets under management (AUM) of $10 billion.A number of providers promptly lowered their prices after first disclosing them on Monday, perhaps anticipating the imminent competition for market share that would ensue upon approval of the funds.
Bitcoin ETFs clocked around $4.6 billion in trading activity on Thursday, with Franklin Templeton responsible for about $65 million of the total sum.