##  [# Fidelity Cuts Fee on European Bitcoin ETFs](/sections/news/fidelity-cuts-fee-bitcoin-etp) 

 

# Fidelity Cuts Fee on European Bitcoin ETFs

 

 

The competition for spot bitcoin funds in Europe has been heating up.



 

 

 

 

 [![etf](/sites/default/files/styles/author_image_icon/public/2023-03/etf_com_logo.png?itok=tX9VZitZ "etf")](/contributors/theo-andrew) 

[By Theo Andrew](/contributors/theo-andrew)

 Feb 14, 2024

 Edited by: James Rubin

 

 

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Fidelity is the latest asset manager to cut the fee on its bitcoin exchange-traded product (ETP).

The [**Fidelity Physical Bitcoin ETP**](https://www.etfstream.com/etf-screener/FBTC) **(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](https://www.etfstream.com/articles/wisdomtree-cuts-bitcoin-etp-fees-as-us-price-war-hits-europe) on their physical bitcoin ETPs last month, cutting them to 0.35% and 0.39%, respectively. CoinShares also [reduced its fee](https://www.etfstream.com/articles/coinshares-follows-invesco-and-wisdomtree-in-cutting-bitcoin-etp-fee) to 0.35%.

## Rising Interest in Cryptocurrencies

Christian Staub, managing director Europe at Fidelity, said: “The recent approval of the first spot bitcoin ETFs in the U.S. has spurred interest from investors in cryptocurrencies all over the world."

“We have had numerous conversations with clients over the past months as they are rightly asking for an efficient way to benefit from this trend," Staub said. "We are confident that our ETP's new pricing model will improve how we meet their renewed demand and give even more investors access to this asset class.”

The fee reduction places BITC closer to Europe’s cheapest physical bitcoin ETP—the [**21Shares Bitcoin Core ETP**](https://www.etfstream.com/etf-screener/CBTC) **(CBTC)**—which has a TER of 0.21%.

Europe’s cheapest bitcoin ETP is the [**Valour Bitcoin Zero SEK**](https://www.etfstream.com/etf-screener/BTC0E) **(BTC0E)** with a management fee of 0%, though this is synthetically replicated.

FBTC listed in February 2022 and has $25m assets under management (AUM).

 
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 [ Theo Andrew ](/contributors/theo-andrew) 

 

 

  Theo Andrew joined ETF Stream as a senior reporter in September 2021. He has over four years of investment writing experience spanning pensions and…   [View Bio](/contributors/theo-andrew)

 



 

 


 Related Topics  [Fidelity](http://www.etf.com/topics/fidelity) 

 [Bitcoin](http://www.etf.com/topics/bitcoin) 

 [Spot Bitcoin](http://www.etf.com/topics/spot-bitcoin)