Quote from: New Money on Today at 04:49:38 AM

As soon as Bitcoin spot ETFs were introduced earlier this month, issuers immediately began vying for a share of the market. These ETF products simplify the process for investors to invest in underlying assets, but they also entail management fees for the issuers. However, in the case of Bitcoin spot ETFs, many issuers quickly lowered their fees to draw in Assets Under Management (AUM). The fees vary from 0.2% to 1.5%, and some issuers are even offering a fee waiver for an initial period to boost the attractiveness of their ETFs. For instance, Valkyrie, an ETF issuer, has reduced their fees to a mere 0.25% and is offering a three-month fee waiver following their ETF's launch.

The competitive free market drives these 11 Bitcoin spot ETF issuers to enhance their services, but it remains uncertain how much investment they will pull into the cryptocurrency sector. Anticipation of SEC approval had driven Bitcoin's price from under $30k in October 2023 to over $45k by January 9, 2024. Yet, many anticipated the SEC's final approval by January, leading to a widespread "sell the news" sentiment upon the actual ETF launch. The prevalent theory suggests that by the time the ETFs received approval, this event had already been priced into Bitcoin’s value, potentially causing a price dip as the news became a reality, leaving little room for future positive sentiment. Contrarily, some argue that post-ETF approval, issuers might need to acquire more Bitcoin, potentially exerting upward pressure on its price.

A week after Bitcoin ETFs Approval, why prices of many coins/tokens decresed?