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 . In a filing to the SEC the company said: “The adviser has contractually agreed to waive the fund’s full unitary management fee of 0.29 per cent of the fund’s average daily net assets on the first $100m in net assets until at least 30 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 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 .