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EP 5 Bitcoin ETF Approval Could Disrupt Major Cryptocurrency Exchanges
The potential approval of a Bitcoin exchange-traded fund (ETF) in the United States could have a major impact on the cryptocurrency exchange industry.
According to Bloomberg analyst Eric Balchunas, ETFs could be more cost-effective for consumers than trading Bitcoin directly on exchanges. He points to the example of the Gold ETF, which has a fee of around 0.35% to 0.40%. In contrast, crypto exchanges can charge much higher fees, with some levying transaction fees as high as 1.5%.
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By JessThe potential approval of a Bitcoin exchange-traded fund (ETF) in the United States could have a major impact on the cryptocurrency exchange industry.
According to Bloomberg analyst Eric Balchunas, ETFs could be more cost-effective for consumers than trading Bitcoin directly on exchanges. He points to the example of the Gold ETF, which has a fee of around 0.35% to 0.40%. In contrast, crypto exchanges can charge much higher fees, with some levying transaction fees as high as 1.5%.