Invesco Galaxy reduced spot Bitcoin ETF commission amid competition pressure
Invesco and Galaxy Digital have announced fee reductions for their spot Bitcoin (BTC) ETF (BTCO). According to filings with the U.S. Securities and Exchange Commission, the fee is reduced by 14 basis points, from 0.39% to 0.25%. Invesco and Galaxy Digital note that their product exempts clients from commission s for the first six months on assets of up to $5 billion. At the same time, the companies retain the right to extend preferential conditions for investors. The updated rate will improve the position of the Invesco and Galaxy Digital cryptocurrency ETFs in terms of competition , says Bloomberg Intelligence analyst James Seyffart. We have @InvescoUS & @galaxyhq cutting the long term fee on their #Bitcoin ETF from 39 bps to 25 bps. (Yes they have the fee waiver to 0% for first 6 months or $5 billion in assets). Story from @emily_graffeo & @kgreifeld pic.twitter.com/Erk2NU9kVF — James Seyffart (@JSeyff) January 29, 2024 Most investment products from other compan...