EZBC ETF Alert: Franklin’s Bitcoin ETF Becomes the Cheapest After New Fee Cuts


  • The Franklin Bitcoin ETF (EZBC) has a fee of 0.19%, the lowest among its competitors.
  • The ETF is charging a fee of 0% for its first $10 billion in assets under management.
  • The EZBC ETF was the sixth most traded Bitcoin ETF among 11 total yesterday.
EZBC ETF - EZBC ETF Alert: Franklin’s Bitcoin ETF Becomes the Cheapest After New Fee Cuts

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Following the U.S. SEC’s approval of several spot Bitcoin (BTC-USD) exchange-traded products (ETPs), Bitcoin exchange-traded funds (ETFs) are now officially listed on the market. However, with so many options to choose from, the Bitcoin ETF fee war has officially commenced. These Bitcoin ETF providers are now fighting to provide the lowest fee in order to attract more investors.

Franklin Resources (NYSE:BEN) and its subsidiary, Franklin Templeton, seem to be winning the war. Its fee of 0.19% for its Franklin Bitcoin ETF (NYSE:EZBC) is below its competitors’ fees of between 0.2% and 1.5%, although just barely. The fee was lowered after initially being set at 0.29%.

Furthermore, like many other Bitcoin ETF providers, Franklin is currently running a fee promotion. The promotion provides a 0% fee from Jan. 12 until Aug. 2 for the first $10 billion assets under management.

“As a firm, we are well positioned to leverage our in-depth knowledge of blockchain ecosystems to introduce products like EZBC that serve to further the understanding and accessibility of digital assets within the broader investing community,” said Franklin Head of Digital Assets Roger Bayston.

Franklin’s EZBC ETF Carries the Lowest Fee Among Competitors

In comparison, the BlackRock Bitwise Bitcoin ETF (NYSEMKT:BITB) has a fee of 0.2%, while the Grayscale Bitcoin Trust (NYSEMKT:GBTC) has a fee of 1.5%. Additionally, many ETFs have lowered their fees in response to the fees of other ETFs. The iShares Bitcoin Trust ETF (NASDAQ:IBIT) lowered its fee to 0.25% from 0.3%, while the ARK 21Shares Bitcoin ETF (NYSE:ARKB) lowered its fee to 0.21% from 0.25%, among others.

In yesterday’s first trading day of Bitcoin ETFs, Franklin’s Bitcoin ETF tallied in around the middle in terms of dollar trading volume. According to Bloomberg Intelligence’s James Seyffart, Franklin’s volume of $65.45 million landed it in sixth place among 11 total Bitcoin ETFs with a total volume of $4.6 billion. Grayscale led the way with a volume of $2.32 billion, followed by BlackRock with a volume of $1.03 billion.

The EZBC ETF currently owns 1,131 Bitcoins with Coinbase (NASDAQ:COIN) as its custodian.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2024/01/ezbc-etf-alert-franklins-bitcoin-etf-becomes-the-cheapest-after-new-fee-cuts/.

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