The crypto linked <a href="https://news.todayq.com/another-win-for-bitcoin-australia-set-to-launch-bitcoin-etf-with-a-twist/" rel="noopener noreferrer nofollow">Exchange-Traded Fund</a> (ETF) buzz is still making rounds in the market as investors are looking for an easy way to enter the digital assets industry. Amid bagging new approvals, US based ETF provider Global X has temporarily cut fees for its two exchange-traded products (ETP) to zero. Zero ETF fees 
According to reports, Global X has taken the bold step of cutting fees to zero for their Bitcoin (BTC) and Ethereum (ETH) ETPs listed on European exchanges. This aggressive move comes in order to attract investors seeking a low cost entry point into the market.&nbsp;
The fee waiver will last until January 2025 after which a standard fee of 0.29% will apply, it added.
This fee cut comes in amidst a jump in activity in the European ETP market. Providers like WisdomTree and 21Shares have launched their crypto products on the London Stock Exchange. These investment products are currently restricted to institutional investors due to regulations from the UK’s Financial Conduct Authority (FCA).
WisdomTree is boasting a competitive management expense ratio of 0.35%. It aims to undercut competitors with “one of the lowest fee levels” for institutional types of ETPs.
It is important to note that despite the excitement surrounding these launches, European Bitcoin ETPs have seen regular outflows in 2024. This is exactly opposite to what can be seen in the US, where ETFs enjoyed high inflows since the SEC approved the first spot Bitcoin ETFs in January. What’s next? 
Data shows that Europe based Bitcoin ETPs have bled more than $500 million this year. However, other crypto ETPs have seen minimal inflows. This trend occurs despite Bitcoin registering at 40% price surge during the same period.
Bitcoin price is up by 63% on year to date (YTD) basis. BTC is trading at an average price of $69,052, at the press time.
The current state of the crypto ETP market reflects a dynamic landscape. While Europe struggles with outflows, the fee war suggests a fight for market share. The success of US-based crypto products, particularly the spot Bitcoin ETFs, highlights the potential for growth. However, regulations in Europe continue to restrict retail investor access, hindering broader adoption.
The global digital assets market recorded a marginal drop over the last 24 hours. The cumulative crypto market cap stands at $2.56 trillion. billion. Meanwhile, its 24 hour trading volume is up by 8% to stand at $77 billion.

Bloodbath in ETF fees, Crypto ETP issuers fight for European investors

Todayq News

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