Galapagos Capital lowers GBIT11 ETF fee and shifts to ARK 21Shares Bitcoin ETF

Galapagos Capital announced a structural change for its B3-listed Bitcoin ETF, GBIT11, which will now replicate the US-traded ARK 21Shares Bitcoin ETF (ARKB). The total fee for the fund will be reduced from 0.45% to 0.39%, making it the lowest-cost physical Bitcoin ETF in Brazil according to the manager. The strategy, index, and service providers remain unchanged. ARKB, launched in January 2024 by 21Shares and ARK Invest, serves as the new underlying investment vehicle.