Wage races heat up on Ether spot ETFs: Last minute play from Grayscale
Grayscale, which announced a 2.5% and surprisingly expensive transaction fee for the Ethereum spot ETF per week, pulled the transaction fee in the mini-Ether fund from 0.25% to 0.15% at night. Grayscale will also fully waive transaction fees in the first 6 months or the first 2 billion dollar investment.
The Grayscale company, which has the most expensive transaction fee in Bitcoin spot ETFs and saw an output of billions of dollars in a few months, had implemented a similar policy in its Ethereum spot ETFs. While the company received the transaction fee it requested for the Ether spot ETF (ETHE) by 2.5%, this was by far the most expensive rate and was met with surprise in the industry.
Play in Mini-Ether
Experts interpreted the 2.5% ratio in Grayscale's ETHE fund as "they did not learn from Bitcoin ETFs". However, Grayscale seems to have chosen the mini-Ether fund (MiniETHE) as the fund where customer expectations are high. The company suddenly became the company with the cheapest rate with the transaction fee of 15 basis points (0.15%) announced last night. In the previous statement, this rate was 0.25%.
The MiniETHE fund stands out as a fund where much smaller investments can be made and is expected to appeal to retail customers. Grayscale, in fact, has clearly shown with this move that it expects exits from the large Ether fund, ETHE (choosing the transaction fee by 2.5%), and that it is not in an expectation.
Which company wants how much, what does it give up?
Transaction fee rates of companies applying for the Ether spot fund are changing. With rates not far from each other, the issuers made a commitment not to charge a transaction fee for a certain period of time or until the investment input.
