Fidelity has lowered its proposed spot Bitcoin ETF fee to 0.25% amid fee competition.

Fidelity said it plans to lower the fees on its proposed spot Bitcoin exchange-traded fund (ETF) to 0.25% when it resubmits. Revised Form S-1 Submitted on Tuesday.

previous fidelity The fee is listed as 0.39%. The company also plans to waive fees for market participants until July 31, according to the document.

U.S. rivals pushing the first line of spot Bitcoin ETFs have been racing to attract the market by lowering fees as potential approval from the Securities and Exchange Commission approaches. Asset managers such as Bitwise, WisdomTree, Invesco, and Valkyrie I ran to the bottom for the fee. As submitted earlier this week.

that widely expected U.S. financial regulators are expected to announce their decision on Wednesday. Jan van Eck, CEO of spot Bitcoin ETF applicant VanEck, said: told CNBC On Tuesday he said he expected his firm’s proposed fund to begin trading on Thursday.

Meanwhile, the SEC said that account X: I got hacked earlier today. The account tweeted a fake post saying that an application for a spot Bitcoin ETF had been approved. caused by that incident Bitcoin price falls Up to approximately $45,880 at the time of publication. Reached over $47,000 On Tuesday.

SEC based on unauthorized access told The Block They say they will be working with law enforcement to investigate the matter.

Despite the incident, James Seyffart, a research analyst at Bloomberg Intelligence, said: post For X, the ETF ruling will likely follow the original schedule. “We are still expecting potential approval tomorrow and a potential transaction opening on Thursday,” Seyffart wrote to X.

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