How low can bitcoin ETF fees drop before it hurts a business? On Thursday, Franklin Templeton’s Franklin Bitcoin ETF ranked sixth among the 11 for first day trading volume at $65.45 million by the end of the day. (Note: A number of issuers, Franklin included, are waiving fees for a limited time.) There’s reason to believe that spot bitcoin ETFs and other related products that may come to market will see strong demand over time, and major investment houses want a piece of the action. An additional preexisting $2.3 billion from Grayscale’s GBTC fund, which converted into a spot bitcoin ETF on Wednesday, brought the 11 issuers’ total to $4.6 billion.