New Crypto Exchange From Schwab, Fidelity, Citadel Securities, Virtu Aims to Seriously Cut Costs for Investors

New Crypto Exchange From Schwab, Fidelity, Citadel Securities, Virtu Aims to Seriously Cut Costs for Investors

It’s seeking to nudge crypto toward the low costs seen in U.S. stocks, EDX CEO Jamil Nazarali said in an interview Tuesday. He gave a theoretical example of an investor seeking to buy $5,000 worth of an S&P 500 ETF, whose cost for that trade – as measured by the cut, known as the spread, an intermediary would take to complete the transaction – would likely be a few pennies. A similar-sized BTC trade might currently cost $25, Nazarali said.

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