The iShares Bitcoin Trust Registered is BlackRock’s foray into the spot Bitcoin ETF, the world’s largest asset management company. The custodian of Bitcoin for IBIT ETF is Coinbase Custody, representing the crypto custodian arm of one of the top cryptocurrency exchanges out there, Coinbase.
If we disregard Grayscale’s GBTC, which had a mammoth head start regarding assets under management, the iShares Bitcoin Trust by BlackRock has been the most successful up to now in regard to Bitcoin ETFs.
For the first 12 months the IBIT ETF is available, BlackRock is reducing the fund’s fee to 0.12% for the first $5 billion in assets.
The fund charged its usual 0.25% fee on assets over $5 billion, but all investors are paying the same fee, irrespective of when they bought. Since the real fee is a weighted average of the 0.12% paid on the first $5 billion and 0.25% on everything else, it will be less than 0.25%. For the years subsequent to the first 12 months of the fund’s working, the fund fees will be reset to 0.25%.
