Galapagos Capital reduces fees for GBIT11 Bitcoin ETF

Galapagos Capital has announced structural changes to its Bitcoin ETF, GBIT11, which is traded on the B3 exchange. The fund will now use the ARK 21Shares Bitcoin ETF (ARKB), traded in the United States, as its primary investment vehicle for international exposure.

As a result of this change, the total annual fee for GBIT11 will be reduced from 0.45% to 0.39%. According to the asset manager, this adjustment aims to lower costs for investors without altering the fund's core Bitcoin exposure strategy, benchmark, market maker, administrator, or custodian.

Bruno Stein, a partner at Galapagos Capital, stated that adopting ARKB allows for cost reduction while maintaining the fund's purpose. The company claims that with this new structure, GBIT11 will have the lowest total fee among Bitcoin ETFs with physical custody available in Brazil.