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

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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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