The ARK Bitcoin Spot ETF will charge an annual management fee of 0.8% or be subject to the complexity of managing cryptocurrency assets.

According to BlockBeats news on November 21, ARK Investment Management and 21Shares have become the first major applicants to disclose management fees for a Bitcoin spot ETF in the United States. According to updated documents on Monday, the Ark 21Shares Bitcoin ETF (ARKB) will charge a management fee of 0.8%. Although higher than the average fee rate of 0.54% for US-listed ETFs, this fee is lower than the maximum fee of 0.95% charged by the largest Bitcoin futures ETF, ProShares Bitcoin Strategy ETF, and far lower than the 2% charged by Grayscale GBTC. Bloomberg quoted industry experts as saying that Ark and 21Shares have kicked off the "fee competition" in this round, and their opponents include asset management giants such as BlackRock Inc., Invesco Ltd., and Fidelity Investments, which are known for their low-cost product lines. Bloomberg ETF analyst James Seyffart said: "Ark and 21Shares updated their fees from 70 basis points to 80 basis points in their filing, which may mean that the cost of running these products will be higher than some sponsors and issuers imagine." Ophelia Snyder, co-founder and president of 21Shares, said that the "inherent complexity" of US-listed spot products has led to a 0.8% fee. Although traditional ETFs can use "packaging and bundling" services such as custody, accounting, and management, this is not the case for crypto products. In fact, almost every part of crypto products uses different suppliers, which does increase operating costs. We believe this is a reasonable price and can sustain these markets in the long term.