Cryptocurrencies
Bitcoin’s Second North American ETF Just Started a Price War
- Evolve cuts price on product just one week after debut
- Move makes Evolve fund cheaper than more popular Purpose ETF
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Just a week after the first Bitcoin exchange-traded funds in North American started trading, the underdog firm just kicked off a fee war.
Evolve Fund Group in Canada lowered the price on its Bitcoin ETF, ticker EBIT, to O.75% from 1%, according to a statement. That’s now cheaper than the 1% expense ratio of its competitor the Purpose Bitcoin ETF (BTCC), which starting trading just a day before Evolve’s offering but has already attracted far greater interest.