Business News Report
January 25, 2024

CoinShares Reduces Physical Bitcoin ETP Management Fee to 0.35%, Strengthens Competitive Edge in Europe

CoinShares Drops Physical Bitcoin ETP Management Fee, Establishes Competitive Edge in European Digital Asset Market

European alternative asset management company CoinShares, which specializes in digital assets, announced a reduction in the management fees for its CoinShares Physical Bitcoin exchange-traded product (ETP). The adjustment will take effect on February 1, resulting in a decrease in the management fee from 0.98% per annum to a competitive 0.35% per annum.

This reduction aims to position CoinShares Physical Bitcoin ETP as the most accessible among physically backed Bitcoin ETPs within the European market. 

“This fee reduction reaffirms our commitment to leading the market in terms of innovation and competitiveness. Our goal is to ensure that our products, including CoinShares Physical Bitcoin, are not just superior in quality but also the most accessible to investors throughout Europe,” said Frank Spiteri, Head of Asset Management at CoinShares in a written statement. 

Through the implementation of fee reduction, CoinShares aims to enhance access for a diverse array of investors to engage in digital assets via regulated products. 

Furthermore, the company is committed to innovation within the digital asset investment sector, evident in its staking cryptocurrency ETPs, featuring a management fee reduced to 0% per annum and the distribution of staking rewards to investors, which sets a new benchmark in value-driven asset management. 

“With this pricing structure, investing in a Bitcoin crypto ETP through CoinShares becomes a more economical choice than purchasing Bitcoin on many mainstream crypto platforms,” said Frank Spiteri, Head of Asset Management at CoinShares in a written statement. 

Founded in 2013, CoinShares is focused on the cryptocurrency sector offering a range of financial services, including investment management, trading, and securities, serving corporations, financial institutions, and individuals.

The company is headquartered in Jersey, with additional offices in France, Sweden, Switzerland, the UK and the US. CoinShares is publicly traded on the Nasdaq Stockholm under the ticker CS and on the OTCQX under the ticker CNSRF.

European Investment Firms Slash Fees Following SEC’s Bitcoin ETF Approvals

The recent approval of 11 spot Bitcoin ETFs by the Securities and Exchange Commission (SEC) in the United States, along with their listing on local exchanges, has garnered significant attention in Europe. However, European Union investors have had access to exposure to comparable products through physically backed exchange-traded products (ETPs) since 2019.

Consequently, companies providing their investment products in the European market have begun to lower their fees, with the intention of remaining competitive with products from firms in the United States, including BlackRock and Ark Investment Management.

Recently, investment management company Invesco and global ETF provider WisdomTree have also implemented significant fee reductions of over 60% on their European Bitcoin products.

These adjustments impact the $325 million WisdomTree Physical Bitcoin ETP, lowering fees from 0.95% to 0.35%, and the $137 million Invesco Physical Bitcoin ETP, reducing fees from 0.99% to 0.39%. The announcements of these fee reductions were made in quick succession and are set to be implemented before the end of January.

By reducing its fees, CoinShares plans to reposition itself as a leader within the digital asset investment sector offering investors a competitive option in the European market.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

More articles
Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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