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Global X Drops Fees to Zero on European Crypto ETPs

US-based ETF provider Global X has temporarily eliminated fees for two physically backed cryptocurrency exchange-traded products in Europe. The asset manager, owned by Mirae Asset, is temporarily waiving fees on its Global X Bitcoin and Global X Ethereum ETPs until Jan. 3, 2025. After that date, a fee of 0.29% will apply, The Financial Times reported Tuesday. Global X’s Bitcoin and Ethereum ETPs are still relatively small, with the Bitcoin fund having around $4.3m and the Ethereum fund around $5.7m in assets under management as of May 24. This decision has sparked some debate, as evidenced by a UK lawmaker’s recent call to the FCA to revisit its ban.

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