AI Evaluation Notes

Immediately after the SEC approved spot Bitcoin ETFs on January 10, 2024, an intense competition among issuers indeed erupted. This was primarily characterized by significant 'fee wars,' where various asset managers, including BlackRock, Bitwise, Invesco, Galaxy, Fidelity, and VanEck, aggressively cut their fees to attract market share. There was also a notable 'marketing war' with issuers launching aggressive advertising campaigns.