Ethereum
ETH ETF Providers Submitted Their S-1 Applications
Institutions that applied to issue ETH ETFs in the United States submitted their S-1 applications to the Securities and Exchange Commission (SEC) on June 21. Many assume that ETH ETFs are days away from launch and may arrive as early as the first week of July ahead of the US Independence Day celebrations.
Late last month, it approved the first round of applications, 19b-4 filings submitted by financial institutions. SO request ask them to clarify their questions before submitting S-1 applications. And that’s what happened.
The SEC will now begin examining these applications. Once approved, the financial companies behind the applications can begin issuing their ETFs, and the instruments will finally be launched on Wall Street exchanges. VanEck, Grayscale, BlackRock, Invesco Galaxy Digital, Franklin Templeton, Fidelity, 21 Shares and many others have sent their S-1 filings so far.
Those who have already submitted their applications have included details of their ETF management fees – VanEck says it will charge investors 0.20%. Franklin Templeton’s fees are roughly in the same area, at 0.19%. The others have not yet disclosed their fees.
When request How long it might take to know what fees these ETF providers charge on X, Bloomberg analyst Eric Balchunas responded, “Probably next week. They can literally wait until almost the last minute to add fees. Concerning BlackRock’s fees, it mentioned“This adds a touch of pressure on BlackRock to stay below 30 basis points at least,” speaking of the pricing structures of competitors VanEck and Franklin Templeton.
Additionally, BlackRock’s filing revealed a $10 million investment. Fidelity’s filing revealed a $4.3 million investment offered by FMR Capital at $38 per share. Bitwise’s updated filing from June 19 indicates that it may receive investments of up to $100 million from Panthera Capital when its ETF launches.