According to CoinDesk, Invesco and Galaxy Asset Management have announced a reduction in the fee of their spot bitcoin exchange-traded fund (ETF) from 0.39% to 0.25%. This change brings the sponsor fee for the Invesco Galaxy Bitcoin ETF (BTCO) in line with most of its fellow issuers. Only Ark and 21Shares, Bitwise, and Franklin Templeton offer lower fees compared to their peers. Invesco stated that it will continue to waive fees for the first six months or until the ETF reaches $5 billion in assets.
The index provider has experienced a slightly slower start in the ETF race compared to other traditional finance issuers of the same caliber, such as BlackRock and Fidelity. Both BlackRock and Fidelity attracted approximately $2 billion in total volume within the first 11 days. In contrast, since its inception, Invesco's bitcoin spot ETF has seen just over $280 million in inflows into its fund.
