As predicted, the SEC today approved several spot bitcoin ETFs — Grayscale GBTC, Bitwise, Hashdex, BlackRock iShares, Valkyrie, ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity Wise Origin, and Franklin.

Fees are cut throat, some less than a quarter of a percent. These companies can run the ETFs as loss leaders for a while, but eventually they’ll have to raise the fees or quit.

Today’s post is over on David’s blog. [David Gerard]

Image: Scrooge McDuck’s money bin