UK crypto funds see trading volume growth after opening to retail investors, Bitwise cuts fees to 0.05%

Foresight News reported, according to the Financial Times, that as the UK decided this month to open cryptocurrency funds to retail investors, a price war has erupted among cryptocurrency funds, with fees for bitcoin-related products slashed to as low as 0.05%. The cheapest bitcoin fund is managed by Bitwise, which has reduced the annual fee for its Core Bitcoin ETP from 0.2% to 0.05%, "valid for six months and will continue until further notice." One exchange has reduced the fees for its Core Bitcoin and Ethereum Core Staking ETPs to 0.1%. Another exchange has lowered the fee for its physical bitcoin ETP to 0.25%, while another has cut the fee for its similar product to 0.1%. According to ETFbook data, the cheapest Ethereum fund currently remains a certain exchange's Physical Staked Ethereum ETP, which is the only exchange-traded product in Europe that charges no fees at all.

According to Bitwise's data analysis, since October 17, when retail investors were allowed to trade bitcoin ETPs, the average daily trading volume of bitcoin ETPs on the London Stock Exchange has reached $7.2 million, up from $2.1 million in early October when only professional investors had access. The average daily trading volume of Ethereum ETNs has also jumped from $1.9 million to $4.4 million.