Industry Updates

Global X temporarily slashes bitcoin and ethereum ETP fees to zero

Cheapest physically backed bitcoin ETP in Europe

Lauren Gibbons

Rob Global X

Global Xhas temporarily cut the fee of its bitcoin and ethereum ETPs to 0% until January 2025.

The firm has lowered the total expense ratios (TERs) on the Global X Bitcoin ETP (BTOX) and the Global X Ethereum ETP (ET0X) from 0.65% to 0% until 3 January 2025 when the fee will increase to 0.29%.

Europe has seen a three-month pause on the flurry of bitcoin ETF fee reductions across January and February after the launch of the 11 spot bitcoin ETFs in the US.

Rob Oliver (pictured), head of Global X Europe, said: “As part of our product management, we want to ensure that our products are competitive when it comes to pricing which is why we decided to launch this fee holiday.

“We are pleased to be one of the most affordable issuers for our ETPs and will continue to explore ways to deliver for our investors.”

BTOX temporarily becomes the cheapest physically backed bitcoin ETP in Europe, ahead of the 21Shares Bitcoin Core ETP (CBTC), which has a total expense ratio (TER) of 0.21%.

WisdomTree and Fidelity International made headline fee cuts in January and February, both cutting the TERs of their bitcoin ETPs to 0.35%.

Elsewhere, ET0X will now temporarily match the 0% management fee of the CoinShares Physically Staked Ethereum ETP (ETHE).

After 3 January, ET0X will become the third-cheapest ethereum ETP on the European market, behind ETHE and the 21Shares Ethereum Core ETP (ETHC), at 0.21%.

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