ChainCatcher news, according to official data from Grayscale, the management fee rate for its launched XRP trust fund Grayscale XRP Trust is 2.5%, and it will use the CoinDesk Ripple Price Index (XRX) to provide a USD-denominated reference rate for the spot price of Grayscale XRP Trust.In addition, as of September 11, the asset management scale of Grayscale XRP Trust reached $247,921.68, with a net asset value per share of $10.73.

ChainCatcher news, according to CoinDesk, asset management companies Invesco and Galaxy's Ethereum spot ETF will charge investors a management fee of 0.25%, slightly higher than the 0.20% disclosed by VanEck last month.Analysts believe that the management fee is used by the issuer to cover the fund's maintenance costs, such as marketing expenses, salaries, and custodial services. Most Bitcoin spot ETF issuers have chosen rates between 0.19% and 0.30%, and Ethereum ETF issuers may do the same.

ChainCatcher news, according to on-chain analyst Ai Yi's monitoring, two hours ago Grayscale allegedly entrusted Flow Traders to sell 5,812 ETH (worth 21.75 million USD), possibly for the Ethereum Trust Fund management fee. Grayscale charges an annual management fee of 2.5% for ETHE, which, based on the current holding of 2.97 million ETH, generates an annual yield of 74,000 ETH (approximately 280 million USD).From July 2023 to now, Grayscale has transferred 34,270 ETH to Flow Traders, worth 8.822 million USD.

ChainCatcher news, three major Chinese fund companies, Huaxia Fund, Harvest International, and Bosera Fund, have each been granted a Bitcoin and Ethereum spot ETF by the Hong Kong Securities and Futures Commission this week. According to the product summary, Huaxia's ETF has the highest annual expense ratio at 1.99%; Harvest and Bosera's ETFs have annual expense ratios of 1% and 0.85%, respectively, which are still generally higher compared to the Bitcoin spot ETFs issued in the United States.It is understood that Huaxia's higher expense ratio partly reflects the fact that the firm has purchased insurance for related assets valued at $1 billion. The Bitcoin and Ethereum spot ETFs issued by Huaxia charge a management fee capped at 0.99% of AUM, with internal assessments indicating that the actual fee could be reduced to 0.65%. Bloomberg ETF analyst James Seyffart believes that Harvest's waiver of management fees for 6 months, combined with the lowest fees, makes it very likely that Hong Kong fund companies will trigger a fee reduction war.

ChainCatcher news, Bloomberg analyst Eric Balchunas stated that the Hong Kong Bitcoin/Ethereum spot ETFs will officially start trading on April 30. The fees are 30 basis points, 60 basis points, and 99 basis points respectively, which is on average lower than our expectations, a good sign.James Seyffart mentioned that Hong Kong might see a potential fee war due to these Bitcoin and Ethereum ETFs. Harvest is about to launch, offering a complete fee waiver, with a minimum fee of 0.3% after the waiver.

According to ChainCatcher news and information from the Hong Kong Securities and Futures Commission's official website, Bosera Global Exchange Traded Fund Open-Ended Fund Company will waive the management fees for its sub-funds Bosera HashKey Bitcoin ETF and Bosera HashKey Ethereum ETF from April 30, 2024, to August 31, 2024.

ChainCatcher news, VanEck announced that from March 12, 2024, to March 31, 2025, the VanEck Bitcoin Trust (HODL) will waive all management fees on the initial $1.5 billion in trust assets. If the trust assets exceed $1.5 billion before March 31, 2025, the management fee on the excess will be 0.20%. All investors will bear the same management fee, which will be the weighted average of these rates. After March 31, 2025, the management fee will revert to 0.20%.

ChainCatcher news, according to CoinDesk, as the approval expectations for Bitcoin spot ETFs (Exchange-Traded Funds) may arrive early next week, currently only six of the 13 applicants have publicly disclosed their management fees. The fees, also known as the expense ratio, will play a key role in the race for Bitcoin ETF popularity, as all funds will hold the same asset, namely Bitcoin. Fees will become a critical factor in distinguishing these funds.It is reported that Fidelity offers the lowest fee at 0.39%, while Invesco and Galaxy announced a complete waiver of fees for the first six months and the first $5 billion in assets, after which a fee of 0.59% will be charged. Ark and 21Shares, along with Valkyrie, plan to charge 0.80%.According to analysis, the expense ratio is extremely important in this specific category, and the fees of other large asset managers like BlackRock have not yet been disclosed, but are expected to be between 0.40% and 0.80%.

ChainCatcher news, according to Bloomberg, ARK Investment Management and 21Shares have become the first major applicants in the U.S. to announce the management fee for a Bitcoin spot ETF. According to updated documents from Monday, the Ark 21Shares Bitcoin ETF (ARBK) will charge a management fee of 0.8%. While this is higher than the average fee rate of 0.54% for U.S.-listed ETFs, it is lower than the 0.95% charged by the largest Bitcoin futures ETF—ProShares Bitcoin Strategy ETF—and far below the 2% charged by Grayscale's GBTC.Bloomberg cites industry experts stating that Ark and 21Shares have kicked off this "fee competition," with competitors including asset management giants known for their low-cost product lines, such as BlackRock Inc., Invesco Ltd., and Fidelity Investments.Bloomberg ETF analyst James Seyffart stated, "The fact that Ark and 21Shares updated the fees in their filing from 70 basis points to 80 basis points may indicate that the costs of running these products are higher than some sponsors and issuers might have imagined." 21Shares co-founder and president Ophelia Snyder noted that the "intrinsic complexity" of U.S.-listed spot products has led to the 0.8% fee.

ChainCatcher news, grayscale CEO Michael Sonnenshein stated in an interview, "When GBTC does convert to a spot Bitcoin ETF, we will be committed to lowering management fees."

ChainCatcher news, Osprey Funds CEO Greg King stated in an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Friday that his company is the "best third party" to manage the trust.If appointed as the manager of GBTC, Osprey, which operates its own Bitcoin trust, would reduce the annual management fee of GBTC by about 75% to 0.49%. A DCG spokesperson did not immediately respond to a request for comment.Previously, the crypto asset management company Osprey Funds had laid off 15 employees and now has fewer than 10 remaining, including four executives. CEO Greg King stated in an email that the downturn in the crypto market led Osprey to make layoffs last summer and fall, but Osprey remains strong. As of January 6, Osprey Bitcoin Trust (OBTC) managed approximately $46.9 million in assets. (source link)

ChainCatcher news, Sequoia Capital partner Alfred Lin stated that in response to the increasingly slowing investment environment, Sequoia Capital has reduced the management fees for two new venture funds, including a $950 million ecosystem fund and a $600 million crypto fund focused on investing in cryptocurrency companies and token projects (as of now, 10% of the funds in the crypto fund have been deployed).Sequoia Capital's move may be related to the plummeting valuations of tech companies and the FTX collapse, but Alfred Lin emphasized that while Sequoia Capital's investment pace has slowed, it will continue to push forward. Sequoia Capital remains a long-term optimist in the crypto industry and several other sectors. (source link)