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.

AccessTimeIconJan 29, 2024 at 10:02 p.m. UTC
Updated Mar 8, 2024 at 8:39 p.m. UTC

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.

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.

Edited by Aoyon Ashraf.


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Helene Braun

Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.