ARK Invest has disclosed the sponsor fee for its Bitcoin Exchange Traded Fund (ETF). Senior ETF Analyst Eric Balchunas from Bloomberg reported, "We have a fee! That’s new. $ARKB will charge 80bps. First issuer to disclose this."
The fund, known as $ARKB, will levy a unitary Sponsor Fee of 0.80% on the trust’s Bitcoin holdings, a move setting a competitive benchmark in the digital asset management space. This fee will be paid by the Trust to ARK Invest as compensation for services rendered under the Trust Agreement.
According to the Trust's detailed fee structure, the Sponsor Fee will accrue daily and will be payable in Bitcoin monthly in arrears. The daily accrual rate of the fee will be determined with reference to an established Bitcoin Index, ensuring a transparent and market-reflective charge.
ARK Invest has further committed to covering all operating expenses, excluding litigation and other extraordinary expenses, from the Sponsor Fee. This includes a range of fees such as those for the Sub-Adviser, Marketing, Administrator, Bitcoin Custodian, Transfer Agent, and Trustee, alongside costs related to any future listing, trading, or quotation of the Shares.