Nice ETF IQ clip.. and yes, MSBT coming at 14bps could entice others to cut, or new entrants to come in even lower. Fee wars are part of life in the Terrordome = hell for issuers, but heaven for investors. That said, prob won't see any cut from IBIT. When you are King of the Hill w tons of liquidity you have pricing power. Only way that changes is if someone else starts to out-flow them or if Vanguard were to file for one at like 10bps- altho that's a .01% chance rn.(Eric Balchunas)