Potential Ethereum spot ETF issuers include: BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy and 21Shares, filed an amended registration statement late Friday. These filings provide additional details about initial investments and fees pending final approval by the U.S. Securities and Exchange Commission (SEC).
To date, only two of the issuers have disclosed fees. In May, Franklin Templeton placed fee at 0.19% for its Ethereum ETF. On Friday, VanEck disclosure The fee will be set at 0.2%.
Eric Balchunas, senior analyst at Bloomberg ETF said tin a post on X on Friday:
“VanEck participated and disclosed the fee at 0.2%, which is quite low, around Franklin’s 0.19%. Putting more pressure on BlackRock to maintain speeds at least below 30bps. So far, it looks like ETH will have low fees, even lower than BTC.”
SEC approved 19b-4 forms for eight Ethereum ETFs last month. Issuers still need their registration statements, known as S-1s (or S-3s, in the case of Grayscale looking to convert Ethereum Trust into an ETF), to be approved before trading can start. Earlier this year, the SEC approved a series of Bitcoin spot ETFs with charges nearly 0.21% and 0.39%.
The companies also disclosed seed investments on Friday. 21 Shares US LLC, which serves as the sponsor of the 21Shares Core Ethereum ETF, is an initial equity investor in the fund, the company said in file Revision. According to the filing, the sponsor purchased 20,000 shares on June 18, adding to an initial investment of $340,739.
“As a Seed Capital Investor, 21Shares US LLC acted as statutory guarantor in connection with this purchase. The total proceeds raised by the Trust through the initial sale of Seed Creation Baskets were $340,739.”
Franklin Templeton also revealed his initial investment totaling $100,000 in file Modified for Franklin Ethereum ETF.
Grayscalealong with other issuers, have added more disclosures about Ethereum and risks in their revised filings.
One declare An amended registration was also filed on Friday for the Invesco Galaxy Ethereum ETF, revealing that it received an initial investment of $100,000 from Invesco Ltd.
The world’s fourth largest asset manager Fidelity has disclosure the initial investment was worth $4.7 million in the latest revised filing.
“The total proceeds from the Trust through the sale of Seed Baskets is $4,749,975.00.”
The proceeds were used to purchase ETH on June 4, made by FMR Capital – an affiliate of Fidelity – which secured the asset manager 125,000 shares at $38 each.
Earlier this week, Bitwise’s registration statement said it had invested $2.5 million in its Ethereum ETF and also revealed that Pantera Capital Management may be willing to buy $100 million worth of shares.
Shortly after Fidelity, BlackRock revealed that it would invest $10 million in its fund, matching its initial investment in the Bitcoin fund.
Balchunas expects the products will debut on July 2.
Itadori
Bitcoin Magazine
