CoinShares Cuts Management Fee for Physical Bitcoin ETP to 0.35%, Bolstering Its Competitive Stance in the European Market
In Brief
Starting February 1, CoinShares is set to reduce the management fees for its CoinShares Physical Bitcoin ETP to a notable 0.35%.
A European alternative asset management firm CoinShares , specialized in digital assets, has officially announced a fee reduction for its CoinShares Physical Bitcoin exchange-traded product (ETP), which will see the management fee drop from 0.98% per annum to an appealing 0.35% annually, effective February 1.
This move is intended to make the CoinShares Physical Bitcoin ETP the most accessible option available among physically supported Bitcoin ETPs in the European market.
Frank Spiteri, the Head of Asset Management at CoinShares, stated, 'This fee adjustment underscores our commitment to being at the forefront of innovation and competitiveness in the market. We aspire to ensure that our offerings, including CoinShares Physical Bitcoin, are not only of the highest quality but also the most accessible for investors across Europe.'
By slashing its fees, CoinShares aims to open the door for a broader range of investors to engage with digital assets through regulated investment products.
In addition, the firm remains dedicated to pushing the envelope in the digital asset investment space, as reflected by their staking cryptocurrency ETPs, now with a management fee set at 0% per annum, along with distributing staking rewards to investors—a pioneering move in value-oriented asset management.
Frank Spiteri pointed out, 'With this new pricing structure, investing in a Bitcoin crypto ETP via CoinShares turns into a more cost-effective option compared to purchasing Bitcoin on many popular crypto exchanges.'
Established in 2013, CoinShares is deeply rooted in the cryptocurrency sector, offering a spectrum of financial services like investment management, trading, and securities for corporations, financial institutions, and individual investors.
The firm's headquarters are located in Jersey, complemented by offices in France, Sweden, Switzerland, the UK, and the US. CoinShares is publicly listed on the Nasdaq Stockholm exchange with the ticker CS, as well as on the OTCQX under the symbol CNSRF.
European Investment Firms Cut Fees Following SEC’s Approvals for Bitcoin ETFs
The recent approval of 11 spot Bitcoin ETFs The recent endorsements from the Securities and Exchange Commission (SEC) in the US, coupled with listings on local exchanges, has gained significant traction across Europe. However, European investors have been able to access similar products through physically backed ETPs since 2019.
As a result, investment firms offering products in the European market have started to lower their fees to remain competitive against US firms such as BlackRock and Ark Investment Management. .
Recently, investment management giants Invesco and WisdomTree also made substantial fee cuts of over 60% on their European Bitcoin offerings. fee reductions These changes have implications for the $325 million WisdomTree Physical Bitcoin ETP, which saw its fees drop from 0.95% to 0.35%, as well as for the $137 million Invesco Physical Bitcoin ETP, where fees are reduced from 0.99% to 0.39%. These fee adjustments have been announced in rapid succession and are scheduled to take effect before January wraps up.
With this fee reduction strategy, CoinShares aims to reposition itself as a frontrunner within the digital asset investment arena, presenting investors with a viable and competitive alternative in the European market.
Securities and Exchange Commission
Disclaimer
In line with the Trust Project guidelines Alisa, a passionate journalist at Cryptocurrencylistings, concentrates on cryptocurrency, zero-knowledge proofs, investments, and the vast landscape of Web3. With a sharp focus on emerging trends and technologies, she provides in-depth coverage aimed at enlightening and engaging readers in the constantly evolving field of digital finance.
