Bitcoin, Ethereum, Dogecoin Soar As Low-Fee ETF Competition Heats Up: Analyst Says 'Upcoming Bull Cycle Is Likely Going To Be Glorious'
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), experienced significant gains as the market anticipates the approval of the first spot-based Bitcoin ETFs in the U.S. Asset management firms like BlackRock, Fidelity, and Grayscale have updated their S-1 filings with the SEC, revealing their fee structures. Bitwise offers the lowest fee at 0.24%, while BlackRock set its fee at 0.30%. The global cryptocurrency market cap slightly declined, while stock averages increased, with the S&P 500 and Nasdaq Composite rising. Analysts predict a bullish cycle for Bitcoin, with the upcoming ETF approval and the Bitcoin Halving event serving as potential catalysts.
January 09, 2024 | 2:42 am
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BlackRock, the world's largest asset manager, has set its Bitcoin ETF fee at 0.30%, lower than expected, which could attract investors if the ETF is approved.
BlackRock's lower-than-expected fee for its Bitcoin ETF could make it an attractive option for investors, potentially leading to increased demand for BLK shares in the short term if the ETF is approved.
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