Invesco Galaxy has lessened its Bitcoin ETF fee under the moniker BTCO and is awaiting six months of earning its initial $5 billion in the form of assets, whichever comes first. The present rating of the fee is 0.25%, similar to BlackRock, Valkyrie, VanEck, and Fidelity. It has been lowered from 0.39%.
Prior to the SEC giving its consent, the suppliers concentrated on the aspect of the fees to move away from the crowd.
The Bitcoin ETF belonging to Franklin Templeton, trading in the name of EZBC, charges the least amount of fee amongst the group, standing at 0.39%. This will remain until the 2nd of August, 2024, or until the asset value reaches $10 billion.
Beyond the U.S., Invesco has reduced its fee for the tangible bitcoin ETP to 0.39% from 0.99%. The ETP is provided in Europe.
Prior to the introduction of ETFs, the President of the ETF Store, Nate Geraci, mentioned that it was a win-win situation for investors in the Bitcoin ETF arena.
Since the introduction of the Bitcoin ETF, Grayscale’s Bitcoin ETF has had the maximum number of releases, reaching a figure of $5 billion. The highest fee is that of GBTC, standing at 1.5%.
As per the analysts at JPMorgan, a figure of $1.3 billion has been transferred from GBTC to multiple spot bitcoin ETFs with lesser fees. Second in line is WisdomTree, standing at 0.30%.
Since the time it was introduced, Bitcoin ETFs have witnessed enormous releases. The group was responsible for around $15 million in net sales in a single day.
According to Kenneth Worthington, an analyst, the extreme interest in bitcoin ETFs is slowly waning, making way for a more balanced situation. This perception was shared by the crypto research head at VanEck, Matthew Sigel.