Reported 6 months ago
Cathie Wood's Ark, a strong advocate of cryptocurrencies, withdrew from offering an ether ETF in the U.S. due to intense competition in luring customers with low fees for crypto ETFs. While Ark's spot bitcoin ETF charges investors a low fee of 0.21%, the fee competition in the market has intensified, leading to strategic decisions by firms. Experts suggest that the ongoing fee war and the need to maximize returns are key factors influencing ETF issuers' decisions in the crypto market.
Source: YAHOO