Competition among asset managers continues to heat up following the SEC’s decision on the Bitcoin ETF and its Jan. 11 market launch. Invesco, a global ETF provider, has teamed up with Galaxy Asset Management to launch the Invesco Galaxy Bitcoin ETF (BTCO). This move was intended to provide efficient exposure to Bitcoin spot. This is a different approach from other Bitcoin ETF issuers.
In a bid to capture a larger share of the Bitcoin ETF market and climb up the rankings, where it currently sits at No. 6, Invesco and Galaxy announced on Monday they were cutting sponsor fees. The fund’s fees will be reduced from 0.39% to 0.25%, putting it in line with most competitors.
Altcoins that are simultaneously in the spotlight include Immutable (IMX) and InQubeta (QUBE). These top altcoins have generated quite a bit of buzz thanks to their massive upside potential. Ready to soar, these are the best cryptocurrencies to buy right now and these altcoins are not to be missed.
InQubeta (QUBE): Aiming for rapid growth after launch
InQubeta (QUBE) is one of the new ICOs that is quickly gaining investor trust. First of all, this is one of the most optimistic stories at the intersection of AI and blockchain. Additionally, other token features such as deflationary token economics, governance, and staking also make it stand out.
Considering the above, the pre-sale results are not surprising. To date, an incredible $8.6 million has been raised in initial funding, with the next $10 million funding milestone on track. In the seventh phase of the ICO, the token price is only $0.0224, and analysts expect it to rise by 6,000% after launch.
The other appeal of InQubeta, which positions it as the best new cryptocurrency to invest in, has to do with the role it was designed to play. It primarily aims to address funding challenges within the burgeoning AI sector. To this end, we will build the first crowdfunding platform that will allow tech startups to raise funds through cryptocurrency on an NFT marketplace.
Invesco and Galaxy Cut Bitcoin ETF Fees
Spot Bitcoin ETFs continue to be a hot topic in the financial world. It doesn’t look like these rumors will die down anytime soon. Investor sentiment following the BTC ETF is also on the rise as the market surges and asset managers compete for significant stakes.
The exciting news that is generating quite a bit of buzz is that Invesco and Galaxy have decided to reduce sponsor fees for BTCO, the Bitcoin ETF. On Monday, they announced they were lowering the fund’s fees from 0.39% to 0.25%. This would put BTCO on par with most of its competitors.
This move was motivated by a desire to gain a competitive advantage. Currently, the spot Bitcoin ETF market is dominated by BlackRock, Grayscale, and Fidelity, with ETF products from Invesco and Galaxy taking sixth place. Therefore, this new rate could see BTCO rank higher, currently boasting trading volume and assets under management (AUM) of around $280 million.
Immutable (IMX): A Solid Altcoin to Watch
Immutable (IMX) is the first layer 2 scaling solution for NFTs on Ethereum. This has allowed them to carve out a niche and become a pioneer in the dynamic cryptocurrency landscape. As a layer 2 scaling solution, it addresses the limitations of Ethereum such as illiquidity, low scalability, and poor user experience.
One of its competitive advantages is massive scalability and no gas fees for NFT issuance and trading. Amazingly, it does this without compromising asset or user security. Given this, Immutable is poised for mass adoption and tremendous growth.
In light of the above, it is clear why Immutable is one of the altcoins to watch for significant growth. So, if you want to make significant profits, IMX is one of the best altcoins you can invest in.
conclusion
Invesco and Galaxy have decided to lower Bitcoin ETF fees from 0.39% to 0.25% due to increased competition.
Meanwhile, Immutable and InQubeta, which are aiming for a surge, are noteworthy altcoins and investor favorites.
For more information about the InQubeta presale, visit InQubeta Presale or join the InQubeta community.