The firm behind Donald Trump's social media platform Truth Social has filed to withdraw its applications for crypto exchange-traded funds, abandoning plans for both Bitcoin and Bitcoin-Ethereum ETFs.
"Our focus has always been on delivering the right strategies through the right structures," Neamtz claimed, noting that “the '40 Act structure allows us to bring more differentiated investment strategies to our investors that are not possible under the '33 Act framework.”
Competition ramps upMorgan Stanley’s Bitcoin ETF has undercut competitors with a market-leading 0.14% annual expense ratio, versus Grayscale's Bitcoin Mini Trust at 15 basis points and both BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund at 25 basis points.
