Spot Bitcoin ETF Fee War Begins as SEC Approval Looms

Daily Top Performer — Stacks Protocol (STX)

The SPX index was up 1.41% overnight, the surge was led by technology, consumer discretionary, and communication services sectors, with major tech companies like Nvidia, AMD, Apple, Amazon, and Broadcom experiencing substantial gains. The broader cryptocurrency market is up, with Bitcoin and Ether rising 6.32% and 4.39% respectively in the past 24 hours. 

Today’s outperformer is STX, which jumped 18.9% after STX20 enhances trading experience with ALEX's Bitcoin Oracle integration.

Stacks Protocol (STX), launched in October 2018, is a crypto project that enhances Bitcoin by enabling smart contracts and DApps on its blockchain, functioning as a Layer 2 solution with Bitcoin's security. STX20 indexers, STX20, and SatScreener, are partnering with ALEX to integrate with the Bitcoin Oracle, enhancing the security and functionality of the STX20 trading experience. This integration with ALEX's Bitcoin Oracle, an on-chain, tamper-proof, and censorship-resistant database, aims to provide new, secure trading opportunities on ALEX's Automated Market Maker (AMM). As the finalization of this integration approaches, updates will be shared, inviting the community to participate in the new trading experience on ALEX.

Check Out the Latest Prices, Charts, and Data of STXUSDT Perp and STX/USDT Spot!

Talk of the Town:

A group of major investment managers, including BlackRock, VanEck, Ark Investments/21Shares, and Bitwise, disclosed on Monday the fees they plan to charge for their proposed spot Bitcoin exchange-traded funds (ETFs). They are significantly undercutting the industry average in a bid to win market share, with fees ranging from 0.24% to 0.30%, compared to the 0.54% ETF average. This comes as the firms anticipate the SEC will finally approve spot Bitcoin ETFs this week after previously rejecting them. The moves represent a critical milestone for the crypto industry and could bring billions more dollars into Bitcoin.  Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!