Invesco and Galaxy Reduce Fees:
- Invesco and Galaxy decrease the fees on their Bitcoin spot ETF from 0.39% to 0.25%.
- This reduction puts their product on par with most competitors.
- Invesco offers a complete fee waiver on assets up to $5 billion for the first six months.
Invesco and Galaxy Asset Management have announced a significant reduction in management fees for their Bitcoin spot ETF, lowering it from 0.39% to 0.25%, in order to align with their competitors in the market.
This decision, which will take effect in a few months, aims to make their product more competitive against dominant offerings in the market, such as those from Grayscale, BlackRock, and Fidelity.
Although Invesco and Galaxy’s ETF ranked sixth in terms of trading volume, with over $280 million in buying and selling, this fee reduction could improve its attractiveness and growth potential.
Full Fee Waiver up to $5 Billion
The fee reduction comes in the context of increased competition in the Bitcoin spot ETF market, where fees play a crucial role in the investment decisions of traditional players.
In addition to this reduction, Invesco has implemented a complete fee waiver on assets up to $5 billion for the first six months of operation of their ETF, named BTCO, effectively reducing the total expense ratio to zero.
Invesco continues to waive all fees on BTCO’s assets up to $5 billion for the first six months of BTCO’s operation, effectively bringing the total expense ratio of BTCO to 0 basis points, with the possibility of extending the fee waiver further
stated the companies to the SEC
This aggressive pricing strategy puts Invesco and Galaxy in a favorable position to compete with BlackRock and Fidelity’s products, each managing approximately $2 billion in assets under management.
