EP 5 Bitcoin ETF Approval Could Disrupt Major Cryptocurrency Exchanges

The potential approval of a Bitcoin exchange-traded fund (ETF) in the United States could have a major impact on the cryptocurrency exchange industry.

According to Bloomberg analyst Eric Balchunas, ETFs could be more cost-effective for consumers than trading Bitcoin directly on exchanges. He points to the example of the Gold ETF, which has a fee of around 0.35% to 0.40%. In contrast, crypto exchanges can charge much higher fees, with some levying transaction fees as high as 1.5%.