Crypto
Liquidity Gap Widens as BlackRock and Fidelity Engage in Fee War
BlackRock and Fidelity are engaged in a fee war for dominance in the Bitcoin ETF market, but despite matching each other's expense ratio of 0.25%, the real battle is over liquidity.
The iShares Bitcoin Trust (IBIT) manages $60.62 billion, dwarfing its main competitor, the Fidelity Bitcoin Exchange-Traded Fund (FBTC), which holds just $13.58 billion in assets under management.
When it comes to trading volume, IBIT's 30-day average is a staggering $2.85 billion, compared to FBTC's paltry $373 million, further emphasizing the liquidity gap between the two funds.