Invesco Galaxy lowers bitcoin ETF fee to match BlackRock, Fidelity 

Invesco Galaxy lowered BTCO’s fee from 0.39% to 0.25%

share

Invesco Galaxy has dropped the fee for its bitcoin ETF, which trades under the ticker BTCO. 

The ETF is waiving its fee for either the first six months or first $5 billion of assets. The fee now stands at 0.25% — in line with BlackRock, Valkyrie, VanEck and Fidelity — down from 0.39%. 

Fees quickly became a way for bitcoin ETF issuers to stand out from the pack even before the Securities and Exchange Commission officially gave them the green light

Franklin Templeton’s bitcoin ETF, which trades under EZBC, has the lowest fee of the group at 0.19%. It also, however, has a waiver in place until Aug. 2, 2024 or $10 billion in assets. 

Loading Tweet..

Outside of the US, Invesco also lowered the fee for its physical bitcoin ETP from 0.99% to 0.39%. The ETP is one of the firm’s European offerings. 

Read more: Low US spot bitcoin ETF fees spark ongoing price decreases in Europe

Earlier this month — before the official launch of the ETFs — Nate Geraci, president of The ETF Store, said that investors were the “clear winners” of the bitcoin ETF race

He told Blockworks in early January that the number of issuers with low fees “speaks to how brutally competitive this category will be.”

Competitiveness does seem to be at play when looking at the group’s flows. Since launch, Grayscale’s bitcoin ETF has had the highest number of outflows — topping nearly $5 billion. GBTC’s fee is the highest of the bunch at 1.5%

Last week, JPMorgan analysts estimated that $1.3 billion had shifted from GBTC to other spot bitcoin ETFs with lower fees.

The next highest fee, in comparison, is WisdomTree’s at 0.30%. 

Since launch, bitcoin ETFs have seen a high number of outflows. However, JPMorgan analysts said that the group saw roughly $15 million of net sales on Friday. 

“As we’ve been seeing transaction volumes slowing this past week, we think we are perhaps seeing indication of the hype around these ETFs abating and entering a perhaps more normalized flow environment,” analyst Kenneth Worthington wrote in a Monday note. 

VanEck’s crypto research head Matthew Sigel told Blockworks last week that the flows remained in line with the projections from his firm. 


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

Are digital assets just part of “normal” finance conversations now?

article-image

It’s a busy week as DC prepares for confirmations and policies that may have major impacts on crypto

article-image

NFT collection Azuki is releasing anime-inspired decks for a physical trading card game

article-image

Fidelity is planning a stablecoin launch, FT reports, as more companies flock to the digital-dollar business

article-image

Trace Morgan warns that the government shouldn’t “smash buy” without a long-term strategy

article-image

Coinbase Asset Management and One River CEO Eric Peters explains why crypto’s not yet focused on fundamentals