21Shares has cut the fee of its crypto basket ETP and its gold and bitcoin ETP.
The $14.3m 21Shares Crypto Basket 10 ETP (HODLX) will see is fee reduced from 2.5% to 0.49%, while the total expense ratio (TER) of the $11m 21Shares Bytetree BOLD ETP (BOLD) will be reduced from 1.49% to 0.65%.
The move comes after a flurry of crypto ETP fee reductions earlier his year following the approval of spot bitcoin ETFs in the US.
The cheapest multi-cryptocurrency ETP remains the CoinShares Physical Top 10 Crypto Market ETP (CTEN) with a TER of 0%.
HODLX tracks the Vinter 21Shares Crypto Basket 10 index, which offers exposure to the 10 largest assets and weighing them according to their market capitalisation.
Meanwhile, BOLD tracks the Vinter ByteTree BOLD index which offers physically backed exposure to gold and bitcoin with weighting based on the risk levels of both assets.
Mandy Chiu (pictured), head of financial product development at 21Shares, said: "At 21Shares, our mission has always been to make investing in cryptocurrency more accessible and this fee reduction is a reflection of our commitment to delivering value to our investors.
"By lowering the fees on HODLX and BOLD, we are enabling more investors to participate in the future of finance at a lower cost.”
Elsewhere, Global X temporarily cut the fee of its bitcoin and ethereum ETPs to 0% until January 2025.
Shortly after, Hashdex waived the fee on its $103m Hashdex Nasdaq Crypto Index Europe ETP (HASH) until it reaches $1bn assets under management.
