The SEC has given regulatory approval for an exchange - traded fund that will initially charge investors for holding it . Salt Financial will waive the 29 basis point fee on its Salt Financial Tru Beta US ##P ETF while contributing an amount equal to 0.05 % of the fund 's assets , meaning investors will receive $ 5 for every $ 10,000 invested . In a filing with the SEC , the New York - based firm said it will waive the fee on the first $ 100 m of assets in the fund until at least April 2020 . The fund is the first " negative fee " ETF product to win regulatory approval .
The SEC has given regulatory approval for an exchange-traded fund that will initially pay investors for holding it. Salt Financial will waive the 29 basis point fee on its Salt Low Tru Beta US Market ETF while contributing an amount equal to 0.05% of the fund's assets, meaning investors will receive $5 for every $10,000 invested. In a filing with the SEC, the New York-based firm said it will waive the fee on the first $100m of assets in the fund until at least April 2020. The fund is the first "negative fee" ETF product to win SEC approval.