Buckle up -- ETFs incoming

Fortune just came out with an article explaining that Fidelity has already set its fees (0.39%) for its BTC ETF. That's certainly a lot better than the current 2% Grayscale currently charges for its Bitcoin trust (not a spot ETF). Invesco is set to convert its trust to a spot ETF with 0.59% and 6 months free, according to a LinkedIn news post.

This comes on the heels of the upcoming SEC Jan. 10th deadline, an actual final deadline, not a kick-the-can-down-the-road date, for the Ark21 application. And Goldman is looking to join up with Fidelity and Grayscale.

Stars are aligning for quite a boost in BTC buying as $ billions begin to flow into the market via these new financial routes.

Sources:

-- LinkedIn post: https://www.linkedin.com/news/story/fidelity-sets-bitcoin-fees-5605065/

-- Fortune (paywalled): https://fortune.com/crypto/2024/01/02/bitcoin-etf-fee-authorized-participant-fidelity-blackrock-galaxy-grayscale/

-- Reuters article on Goldman: https://www.reuters.com/business/finance/goldman-talks-with-blackrock-grayscale-be-part-spot-bitcoin-etfs-coindesk-2024-01-03/

-- Coindesk on upcoming deadlines: https://www.coindesk.com/policy/2024/01/04/will-2024-be-the-year-of-the-bitcoin-etf/