Invesco and Galaxy Asset Management Reduce Fees for Invesco Galaxy Bitcoin ETF
In a bid to stay competitive in the spot Bitcoin ETF space, Invesco and Galaxy Asset Management have announced a reduction in fees for the Invesco Galaxy Bitcoin ETF (BTCO). The expense ratio has been lowered from 0.39% to 0.25%, and the fund will waive its fees for the initial six months or until it reaches $5 billion in assets.
Bitcoin ETF Fee Battle Heats Up
This move by Invesco and Galaxy Asset Management is just one of many fee reductions being made by issuers in the emerging industry of spot Bitcoin ETFs. Major players like BlackRock Inc. and Fidelity have already attracted billions of dollars in investor inflows with their low fees.
Despite the fee reduction, BTCO is not the cheapest option among spot Bitcoin ETFs. Franklin Templeton’s offering has a post-waiver expense ratio of 0.19%, making it the most cost-effective choice.
Impact on European ETFs
The competition over fees in the United States may also be affecting European ETFs. CoinShares research suggests that traders are shifting away from Europe-based products due to lower fees offered by US-based providers. In response, Invesco and WisdomTree have both reduced fees for their Europe-based Bitcoin ETFs.
Hot Take: The Battle of Spot Bitcoin ETF Fees Continues
The ongoing battle over fees in the spot Bitcoin ETF space shows no signs of slowing down. As more issuers enter the market, competition is intensifying, leading to fee reductions across the board. Investors stand to benefit from these lower fees as they have more options to choose from when investing in spot Bitcoin ETFs.
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