Bitwise officially launches spot Bitcoin ETF "BITB" with a management fee of 0.2%

Cryptocurrency index fund management company Bitwise announced on its official website the official launch of the first spot Bitcoin ETB Bitwise Bitcoin ETF (BITB). It is reported that the management fee of BITB is 0.20%, which is the lowest among current spot Bitcoin ETFs. The first batch of assets is US$1 billion. The management fee is 0% for the first six months, and it currently has Coinbase Custody Trust Company as its digital asset custodian, Bank of New York Mellon as its manager, and KPMG as its auditor. Bitwise also announced that the company will donate 10% of BITB profits to three non-profit organizations that fund open source development of Bitcoin: Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund.