On Monday, multiple issuers submitted their final filings for approval to list spot Bitcoin exchange-traded funds (ETFs). This includes BlackRock, VanEck, and Ark/21Shares, who all submitted their changes with low fees. In response, Bitwise intensified the “fee war” by proposing a fee rate of 0.24%.

This is in comparison to BlackRock’s fee of 0.30% and VanEck and Ark/21Shares’ fee of 0.25%. Fidelity, who filed their amended S-1 last week, has a proposed fee of 0.39%. Bitwise also announced a 6-month waiver, starting at 0.00%, while BlackRock has indicated a waiver to 0.20%.

Bloomberg ETF analyst James Seyffart provided an update on the different fees proposed by issuers. He also questioned if crypto exchanges will lower their own fees in response to the “fee war”.

Eric Balchunas, a senior ETF analyst at Bloomberg, commented on the potential for the “ETF terrordome” to intensify before approval is granted. He also noted Grayscale Investments’ lowered fee rate of 1.5%, compared to their previous rate of 2%. Balchunas believes that financial advisors may opt for the lower fees offered by traditional finance heavyweights.

As attention turns to the SEC for approval, the price of Bitcoin has jumped 1.5% in the past hour to trade above $45,000. Many analysts predict that if the ETFs are approved, Bitcoin could surpass $50,000 and potentially reach $100,000 or more in the near future.

The SEC is expected to make a decision by Wednesday, January 11. This could be a major milestone for Bitcoin, as 2022 is predicted to be a bullish year for the cryptocurrency. Share this article, and stay tuned for updates on the ETF approval.