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Invesco Slashes Bitcoin ETF Fee to Attract More Investors
- Invesco and Galaxy Asset Management Decrease Spot Bitcoin ETF Fee
- Competitive Fees
- Comparison with Other ETF Providers
Invesco and Galaxy Asset Management Decrease Spot Bitcoin ETF Fee
Invesco and Galaxy Asset Management have decided to decrease the fee of its bitcoin spot exchange-traded fund (ETF) from 0.39% to 0.25%. This change, announced on Monday, aligns the fee for the Invesco Galaxy Bitcoin$42,260 -0.64% ETF (BTCO) with most of its contemporaries.
Competitive Fees
Only a few issuers, such as Ark and 21Shares, Bitwise, and Franklin$0.0015 -3.24% Templeton present lower fees compared to their counterparts. Invesco has stated that it will continue to waive fees for the first six months or until the fund reaches $5 billion in assets.
Comparison with Other ETF Providers
The index provider has not had an excellent start in the ETF race compared to other traditional finance issuers of similar standing, such as BlackRock and Fidelity. These firms managed to draw approximately $2 billion in total volume within the first 11 days of their ETF launch. Since its launch, Invesco's bitcoin spot ETF has attracted just over $280 million in inflows into its fund.
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