Invesco and Galaxy Asset Management announced on the 29th that they will reduce fees for their jointly launched coin spot ETF (exchange traded fund) from 0.39% to 0.25%.

This reduction brings the Invesco Galaxy Bitcoin ETF’s (BTCO) fees in line with the fees of most other issuers. Only Ark 21Shares, Bitwise and Franklin Templeton charge lower fees than their peers.

Invesco also announced that it will continue to waive fees for the first six months or until assets reach $5 billion.

Invesco is a bit late in the ETF race compared to other similarly sized traditional finance (TradFi) issuers such as BlackRock and Fidelity. BlackRock and Fidelity both raised a total of about $2 billion (approximately 300 billion yen, at an exchange rate of 150 yen to the dollar) in the first 11 days.

Invesco’s Bitcoin Spot ETF has received just over $280 million (approximately 42 billion yen) in inflows since its launch.

｜Translation and editing: Rinan Hayashi
｜Image: Shutterstock
｜Original text: Invesco Cuts Bitcoin ETF Fee In a Bid to Lure Investors