Blackstone is cutting fees to抢 market share this round—0.65% directly presses YBTC and BTCI into the ground, and only institutions keep rolling up so retail investors can pick up scraps and get to drink the leftovers

Crypto news, Blackstone Group is about to launch a yield-oriented Bitcoin fund, with fees lower than competitors. Blackstone has submitted its fourth revision of the iShares Bitcoin Premium Yield ETF, which is expected to trade on Nasdaq under the ticker $BITA. The fund sells monthly call options on its holdings of Bitcoin and Blackstone's $47 billion spot Bitcoin ETF (IBIT), with the fees collected serving as investor returns. Blackstone has set the management fee at 0.65%, lower than the 0.95% and 0.99% of the two major covered Bitcoin funds YBTC and BTCI. Analyst Eric Balchunas predicts the fund will be launched soon, as Blackstone faces pressure to surpass Goldman Sachs.