Ethereum ETF Providers Update Fee and Investment Details in Filings
Several prominent asset managers have submitted revised proposals for Ethereum exchange-traded funds (ETFs) to the United States Securities and Exchange Commission (SEC).
The filings by VanEck, BlackRock, Grayscale, Invesco Galaxy Digital, and Fidelity aim to provide updated information on their respective Ethereum funds, Eric Balchunas, an analyst at Bloomberg, noted in a recent post on X.
VanEck’s filing disclosed a management fee of 0.20% for its Ethereum fund, which is in line with competitors like Franklin Templeton, charging 0.19% in management fees. On the other hand, BlackRock has not yet announced the fee structure for its iShares Ethereum Trust (ETHA).
Balchunas suggested that VanEck’s fee announcement puts pressure on BlackRock to keep their management fees below 30 basis points (0.30%) at the very least.
VanEck is in and so is their fee, which will be 0.20%, which is pretty damn low, right around Franklin's 0.19%. Adds a touch of pressure on BlackRock to stay under 30bps at least. So far looks like Eth gonna be as low or even lower fees than btc. pic.twitter.com/YfyM2FB5SF
— Eric Balchunas (@EricBalchunas) June 21, 2024
The approval of the S-1 registration statement is one of the final steps before the ETFs can debut on Wall Street exchanges.
Balchunas predicts that the funds will launch in the first week of July, just before the U.S. Independence Day holiday.
In May, the SEC approved a rule change that allowed major asset managers, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise, to list and trade eight spot Ether ETFs.
Fidelity’s updated filing revealed that FMR Capital, one of its affiliates, has seeded the fund with $4.7 million at a price of $38
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