Firms vying for a place in the Ethereum exchange-traded fund (ETF) market submitted their updated registration statements late Friday. These filings, essential for the Securities and Exchange Commission (SEC)'s approval, included details on seed investments and fees.
Key firms involved are BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy, and 21Shares. Franklin Templeton and VanEck disclosed their fees, set at 0.19% and 0.20%, respectively. This competitive pricing puts pressure on BlackRock to keep its fees below 0.30%.
Eight Ethereum ETFs had their 19b-4 forms approved by the SEC last month. The final step is for the S-1 (or S-3 for Grayscale) registration statements to be effective. Recent spot bitcoin ETFs have fees ranging from 0.21% to 0.39%.
Seed investments were also disclosed. 21Shares US LLC invested $340,739 in the 21Shares Core Ethereum ETF. Franklin Templeton and Invesco Galaxy each invested $100,000 in their respective funds.
Eric Balchunas, a senior Bloomberg ETF analyst, anticipates these Ethereum ETFs to launch by July 2.