From NASDAQ.:

The U.S. Securities and Exchange Commission has approved 11 Bitcoin-based ETFs, giving investors access to the largest cryptocurrency, even in accounts that don’t offer crypto-trading. Four of the ETFs have emerged as early leaders, with more trading action and larger Bitcoin portfolios. Each fund offers a unique take on Bitcoin-based ETFs, but some lagging options have market footprints that are too small for proper coverage.

The four early winners are the Grayscale Bitcoin Trust, iShares Bitcoin Trust, Bitwise Bitcoin ETF Trust, and Ark 21Shares Bitcoin ETF. Grayscale, the largest fund, has been converted from a mutual fund format and has the highest management fees at 1.5%. Grayscale’s net asset value has declined in the early going, while lower-priced options have posted substantial growth.

The iShares fund has rapidly gained traction, building nearly a billion-dollar Bitcoin portfolio in just a few days. Bitwise’s fund offers the lowest fees once all introductory rebate offers expire, and the company donates a portion of its profits to Bitcoin developers. Finally, the Ark 21Share fund, managed by Cathie Wood, offers a middle-of-the-road fee schedule but no eye-catching special features.

After weighing the options, the author is inclined to reinvest their Grayscale Bitcoin Trust holdings in the Bitwise Bitcoin ETF Trust due to its low fees and commitment to supporting the Bitcoin development community. The Ark option was the runner-up, while the Vanguard fund, known for its minimal fees, is not an option as the firm sees no value in Bitcoin and won’t launch an ETF in this sector anytime soon.



Read more: Time to Choose: Which Bitcoin ETFs Stand Out in the Early Going, and How Different Are the Winners?