Global X, a US-based ETF provider, has decided to eliminate fees for its two cryptocurrency exchange-traded products (ETPs) in Europe. The temporary fee waiver applies to the Global X Bitcoin and Global X Ethereum ETPs until January 3, 2025. After this date, a fee of 0.29% will be implemented. The move is seen as a strategic effort to attract European investors. Previously, these two investment products were traded on stock exchanges in Frankfurt and Zurich with a fee of 0.65%. Despite their relatively small size, with the Bitcoin fund holding around $4.3 million and the Ethereum fund around $5.7 million in assets under management, Global X aims to expand their reach in the European market. This fee reduction follows the recent launch of similar Bitcoin and Ethereum products on the London Stock Exchange by WisdomTree and 21Shares. However, these products are currently limited to professional investors only, a decision that has sparked debate and led a UK lawmaker to call for a review of the ban on crypto exchange-traded products for retail investors. WisdomTree’s ETPs offer a competitive fee of 0.35% and claim to be one of the most cost-effective options for institutional-grade, physically-backed crypto ETPs.
