Share this article
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.
Make us preferred on Google
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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.
More For You
Accelerating Convergence Between Traditional and On-Chain Finance in 2026?
Commissioned bySociete Generale-FORGE
More For You
Coinbase misses Q4 estimates as transaction revenue falls below $1 billion
"Crypto is cyclical, and experience tells us it’s never as good, or as bad as it seems," said the company.
What to know:
- Crypto exchange Coinbase reported a fourth quarter earnings miss.
- Transaction revenue of $982.7 million was down from $1.046 billion the previous quarter and $1.556 billion in the fourth quarter one year ago.
- In the first quarter of 2026 through Feb. 10, the company has seen about $420 million in transaction revenue.
- Shares were modestly higher in after-hours trade, though remaining down about 40% year-to-date.
Top Stories
