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Invesco Galaxy Bitcoin ETF Will Have No Fees For The First 6 Months

December 30, 2023 - Around 2 mins mins to read

Key Points:

  • Key players, including Invesco Galaxy and BlackRock, raced to submit their spot Bitcoin ETF applications by December 29.
  • The Invesco Galaxy Bitcoin ETF offers a fee waiver for six months and a $5 billion entry threshold, outpacing competitors like Valkyrie.
  • Invesco Galaxy’s amended filings named Virtu and JPMorgan as Authorized Participants.
In a last-minute sprint towards securing approval for a spot Bitcoin exchange-traded fund (ETF), major players in the cryptocurrency industry, including Invesco Galaxy, BlackRock, and Valkyrie, submitted their finalized S-1 form applications on December 29.
Invesco Galaxy Bitcoin ETF Will Have No Fees For The First 6 Months

Read more: Proposed Invesco Galaxy Bitcoin ETF Will Generate Cash In Latest S-1 Amendment

Invesco Galaxy Bitcoin ETF Leads with Competitive Edge in Bitcoin ETF Fee Structure

This move marked a concerted effort by industry giants to wrap up crucial updates before the year’s end.

Invesco Galaxy, standing alongside its crypto-focused counterparts, BlackRock and Valkyrie, disclosed vital information in their S-1 filings. Notably, details about their partnerships and the fees associated with their proposed Bitcoin ETFs were unveiled. Bloomberg ETF analyst Eric Balchunas aptly described these filings as now being “ready to party.”

Reports indicate that the Invesco Galaxy Bitcoin ETF plans to waive the fee for the first six months, encouraging early investment with a reduced $5 billion threshold. This fee structure is anticipated to be more favorable than the transaction fees imposed by centralized exchanges for holding Bitcoin. In comparison, Valkyrie aims to charge a 0.8% management fee, while Fidelity’s S-1 filing presented a competitive fee structure at 0.39%, initially touted as the lowest until Invesco Galaxy’s announcement.

Invesco Galaxy Bitcoin ETF amended filings stand out, naming Virtu and JPMorgan as its Authorized Participants (APs) without a mandate, marking its fourth S-1 amendment.

Notably, other prominent industry players, including BlackRock, Van Eck, Grayscale, Bitwise, WisdomTree, Fidelity, ARK Invest, Valkyrie, Franklin, Hashdex, Global X ETFs, and Pando Asset, have also submitted S-1 applications for spot Bitcoin ETFs.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Ark Invest

Bitcoin

Bitwise

Blackrock

BTC

Fidelity

Franklin

Global X ETFs

Grayscale

Hashdex

Invesco

Invesco Galaxy Bitcoin ETF

Pando Asset

SEC

Valkyrie

Van Eck

WisdomTree

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.