WisdomTree#Bitcoin#ETP fees decline to 0.35%, while Invesco's fall to 0.39%. Adjustments effective before the end of the month.
According to the Financial Times, European brokers are cutting spot fees on Bitcoin ETFs after Invesco and WisdomTree reduced theirs by more than 60% on European#BTCproducts.
The decision comes as the US Securities and Exchange Commission (SEC) recently approved spot Bitcoin ETFs from major players such as BlackRock, Fidelity and Invesco, resulting in an influx of new investment options for investors. Americans.
The tariff war moves to the European market
Gary Buxton, Invesco's head of ETFs for Europe, the Middle East, Africa and Asia Pacific, said the approval of Bitcoin spot ETFs led to an "unprecedented offering of new products" for US investors. Previously, such investors had to turn to Canadian or European providers to gain exposure to exchange-traded cryptocurrency.
Competition in the US market has led to a wave of rate reductions, with “multiple” providers reducing rates as the market works to find a new balance between supply and demand. As a result, the price range for spot Bitcoin ETFs in the US is now “considerably lower” than that of existing tracking products in Europe, according to Buxton.
In response to the changing landscape, WisdomTree and Invesco have taken proactive steps by reducing fees on their European-listed Bitcoin ETPs by over 60%. WisdomTree Bitcoin Physical ETP fees will drop from 0.95% to 0.35%, while Invesco Bitcoin Physical ETP fees will drop from 0.99% to 0.39%. Both rate adjustments will take effect before the end of the month.
