According to BlockBeats, VanEck has announced that it will waive management fees for its Ethereum spot ETF, following the strategy of its previously launched Bitcoin ETF. Matthew Sigel, the head of digital asset research at VanEck, stated that the zero-fee strategy aims to position the company as the 'preferred provider of cryptocurrency ETFs' and attract more investors, despite potential initial losses.
VanEck plans to waive fees for the first $1.5 billion in assets before 2025, after which it will charge a sponsorship fee of 0.20%. Franklin Templeton is the only other disclosed issuer of a spot ETH ETF with fees and waivers, charging a fee of 0.19% and waiving up to $10 billion for a period of six months.
VanEck has submitted an 8-A securities registration form to the SEC, which Bloomberg analyst Eric Balchunas believes is a good sign for a release on July 2nd. It is expected that the fees for BlackRock's ETH ETF will influence the decisions of other funds.