Bitcoin Backers Should Be Ticked if SEC Approves Negative-Fee ETF
U.S. crypto investors have been waiting for what seems like forever for a Bitcoin ETF, but the Securities and Exchange Commission keeps scowling at their proposals.
However, there’s another innovative exchange-traded fund (ETF) proposal sitting on the SEC’s desk, and while it engages solely with traditional markets, it’s nevertheless based on a scheme that observers must admit is a naked marketing ploy.
In the works is what’s supposed to be a low-cost ETF that not only slashes fees to the bone but actually pays investors to purchase shares.
If the SEC green lights this fund, Bitcoin proponents would rightfully be ticked off at the dinosaurs at the regulatory agency.
Salt ETF Pays You to Invest
Called the Salt Low truBeta US Market ETF, the fund is being touted as a first-of-its-kind. It would be the first-ever negative fee ETF.
The fund is trying to initially raise $100 million. To reach that goal, it is offering to pay investors to put money in it, so for the first $100 million brought into the fund, Salt won’t charge anything and will instead add 0.05% to initial investments.
The negative-fee ETF is finally here: Salt Financial filed on Tuesday to launch an ETF that will actually pay investors for investing adding 0.05% 🙉
🎠It will track an index of roughly 100 low-volatility stocks$LSLT $FIS $SCHW $XLF $GS $MS $STT $BLKRhttps://t.co/u1j2Yk4olA pic.twitter.com/mzjxK3CI5b— alpe pinnazzo (@alpepinnazzo) March 13, 2019
