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Invesco Cuts Bitcoin ETF Fee In a Bid to Lure Investors
The asset manager previously had one of the highest fees of 0.39% for its bitcoin ETF.
Updated Mar 8, 2024, 8:39 p.m. Published Jan 29, 2024, 10:02 p.m.
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Invesco and Galaxy Asset Management have lowered the fee of its spot bitcoin exchange-traded fund (ETF) to 0.25% from 0.39%, the issuers announced Monday.
The move puts the sponsor fee for the Invesco Galaxy Bitcoin ETF (BTCO) in line with that of most fellow issuers. Only Ark and 21Shares, Bitwise and Franklin Templeton offer lower fees versus their peers.
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This is what the fee table looks like now: pic.twitter.com/LPvd6YwGWJ
— James Seyffart (@JSeyff) January 29, 2024
Invesco said it will continue to waive fees for the first six months or until it reaches $5 billion in assets, according to the statement.
The index provider has had a slightly worse start to the ETF race than some other TradFi issuers of the same caliber, including BlackRock and Fidelity, which both attracted roughly $2 billion in total volume in the first 11 days.
Since its inception, Invesco's bitcoin spot ETF has only seen a little over $280 million in inflows into its fund.
Higit pang Para sa Iyo
‘Bitcoin to zero’ searches spike in the U.S., but the bottom signal is mixed
Google Trends data shows the term hit a record high in the U.S. this month, though global interest has fallen since peaking in August.
Ano ang dapat malaman:
- U.S. searches for “bitcoin zero” on Google hit a record high in February as BTC slid toward $60,000 after hitting a peak in October.
- In the rest of the world, searches for the term peaked in August, suggesting fear is concentrated in the U.S. rather than worldwide.
- Similar U.S. search spikes in 2021 and 2022 coincided with local bottoms.
- Because Google Trends measures relative interest on a 0-to-100 scale amid a much larger bitcoin user base today, the latest U.S. spike signals elevated retail anxiety, but does not reliably guarantee a clean contrarian reversal.
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