Spot Ethereum ETF Issuers Update Their Proposals
Several firms competing for a position in the Ethereum ETF market have made revisions to their registration statements, revealing additional information about seed investments and fees as they await final approval from the Securities and Exchange Commission.
On Friday afternoon, BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy, and 21Shares submitted amended statements.
Two of the issuers disclosed their fees, with Franklin Templeton setting theirs at 0.19% in May and VanEck announcing a fee of 0.20%.
This low fee could put pressure on other firms, such as BlackRock, to keep their fees under 0.30%. Last month, the SEC approved 19b-4 forms for eight Ethereum ETFs.
However, these issuers still need their registration statements (S-1s or S-3 for Grayscale) to become effective before they can begin trading. Earlier this year, the SEC approved several spot bitcoin ETFs with fees in the range of 0.21% to 0.39%.
