Publisher submits corrections

Monday is the deadline for issuers to submit amended registration statements for Ethereum spot ETFs, including VanEck, 21Shares, BlackRock (BlackRock), Fidelity (Fidelity), Franklin Templeton (Franklin Templeton) and Grayscale (The Block). Grayscale) both submitted their S-1 amended registration statements on Monday. The amendments mainly focus on minor changes such as custody details.

So far, both Bitwise and VanEck have stated that they will waive management fees in the early stages of listing to enhance market competitiveness, while Franklin Templeton has set a management fee rate of 0.19%. Some remaining issuers, including BlackRock, have yet to set fees.

How will ETF approval impact the market?

An Ethereum spot ETF is almost a sure thing, the only question is when it will be approved and how it will affect the market. Citing past articles written in the past, Mechanism Capital co-founder Andrew Kang said yesterday that he personally believes Ethereum could find some breathing space due to ETF approval, but that upside would be limited to $3,600.

“The price of ETH is slightly below the lower end of my estimated range, likely due to the German-related sales/panic, the impact of Mt Gox, and the delay in the ETF listing. Given that we have sold off significantly, it is very likely that we will get approval in the ETF Ethereum has seen a relief rally, but upside is expected to be limited to $3,600.”

$ETH went a bit below the lower bound of the range I estimated. Likely due to effects of correlated German + mt gox selling/fears + etf launch delayGiven that we sold off so much it’s possible we have an ETH relief rally into the ETF approval, but would expect upside to be…

— Andrew Kang (@Rewkang) July 8, 2024

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