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Fidelity Cuts Fee on European Bitcoin ETFs
Fidelity is the latest asset manager to cut the fee on its bitcoin exchange-traded product (ETP). The Fidelity Physical Bitcoin ETP (FBTC) has seen its total expense ratio (TER) reduced from 0.75% to 0.35%. It comes as several crypto issuers including Invesco, WisdomTree and CoinShares all reduced the headline fee of their bitcoin ETPs after the launch of the 11 spot bitcoin ETFs in the US. The launches have sparked fierce competition on prices in Europe as asset managers hope to capitalize on institutional demand. WisdomTree and Invesco slashed fees on their physical bitcoin ETPs last month, cutting them to 0.35% ... (full story)