The sponsor fee on the Invesco's (NYSE:IVZ) spot bitcoin (BTC-USD) exchange-traded fund has been reduced by 14 basis points, reducing the product's total expense ratio to 0.25% from 0.39%, the company, in partnership with Galaxy Digital's (GLXY:CA) Galaxy Asset Management, said on Monday.

For the ETF's first six months of operations, Invesco (IVZ) will continue to waive BTCO's entire fee on assets up to $5B, bringing the total expense ratio to 0 basis points, with the discretion to extend the fee waiver further.

BTCO, along with 10 other ETFs investing directly in bitcoin (BTC-USD) started trading for the first time on Jan. 11, a day after receiving listing approval.