- These updated statements were filed on Friday by BlackRock, Invesco Galaxy, VanEck, Franklin Templeton, Grayscale Investments, and 21Shares. Fidelity and Bitwise submitted earlier.
- Following Franklin Templeton’s setting of their fee at 0.19% last month, VanEck put its at 0.20%. No fees have been posted by other issuers yet.
In the final hours of the workweek, companies vying for a position in the Ethereum ETH -3.25% exchange-traded fund market turned in their updated registration statements.
While they wait for the Securities and Exchange Commission’s ultimate approval, these papers provided further information on seed investments and fees.
These amended statements were filed on Friday afternoon by BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy, and 21Shares. Two of the issuers have revealed fees thus far. In May, Franklin Templeton set a fee of 0.19% for its Ethereum ETF. VanEck announced on Friday that its fee will be fixed at 0.20%.
VanEck has entered the market, and with it, a charge of 0.20%, which is extremely low and almost equivalent to Franklin’s 0.19%, according to a post made on X by senior Bloomberg ETF analyst Eric Balchunas on Friday. puts some further pressure on BlackRock to maintain a bit rate of no more than 30bps. It appears that Eth will have fees that are either the same or lower than those of Bitcoin.
The SEC certified eight Ethereum ETFs’ 19b-4 forms last month. Trading cannot take place until issuers’ registration statements, known as S-1s (or S-3s, in the case of Grayscale, which is trying to convert its Ethereum Trust to an ETF), become effective. A plethora of spot bitcoin ETFs with fees closer to 0.21% and 0.39% were approved by the SEC earlier this year.
On Friday, businesses also revealed their seed investments. The fund’s seed capital investor was 21 Shares US LLC, the entity that sponsors the 21Shares Core Ethereum ETF, according to the company’s updated registration. The report states that on June 18, the sponsor increased their seed investment to $340,739 by purchasing 20,000 shares.
In relation to this purchase, 21Shares US LLC has served as a statutory underwriter in its capacity as the Seed Capital Investor, according to 21 Shares.The Trust’s total revenue from the sale of the Initial Seed Creation Baskets was $340,739 dollars.
The $100,000 seed investment made by Franklin Templeton was also revealed in its updated Franklin Ethereum ETF filing.
In their updated filings, Grayscale and the other issuers expanded on their disclosures about Ethereum and associated risks.
The Invesco Galaxy Ethereum ETF also submitted an amended registration statement on Friday, revealing that it had received a $100,000 seed investment from Invesco Ltd.
According to Balchunas, he anticipates the products to go on sale by July 2.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
