Tens of Millions of Dollars Set Aside for Spot Bitcoin ETFs in Early Stages - Coin Bulletin

Issuers seeking to establish a spot Bitcoin ETF in the U.S. have shared details on how the ETFs will be funded at the initial stage.

According to information shared with the SEC by investment firm VanEck, the company has allocated $72.5 million as a seed investment in the ETF it is trying to establish.

Bitwise initially allocated $500,000 to its fund, while Pantera Capital said it could transfer $200 million if the fund is approved. However, this is not legally binding on the company.

BlackRock, one of the largest asset managers, also bought $10 million worth of Bitcoin for its own ETF.

The filings with the SEC also included details on how the funds would be managed. The majority of issuers plan to not charge management fees for a certain period of time after the fund is approved.

In the future, Bitwise will apply fees such as 0.24%, Ark 21Shares 0.25%, and BlackRock 0.3%.