As reported by Blockworks, a new round of amended spot Ethereum ETF applications have been filed, and at least one more round of review is expected before the product can be launched. The latest filings show that there may be another fee war, and one issuer has decided to focus more on Bitcoin. The SEC approved the 19b-4 proposals submitted by Cboe, NYSE Arca, and Nasdaq on May 23 to list these funds, and now the regulator will finalize the S-1 registration statement to complete the last step before launching. BlackRock disclosed its fund's $10 million seed capital and authorized participants on Wednesday. However, as more filings poured in late Friday, the biggest highlight was Franklin Templeton's Ethereum fund's planned price point of 0.19%. The company with an asset management scale of $1.6 trillion is the first to disclose its proposed fees, setting the stage for an expected fee war, similar to what we saw between Bitcoin ETF issuers in January. Another major highlight is that Ark Invest was not mentioned by name in the filing. The company focused on disruptive innovation had previously partnered with 21Shares to launch a spot Bitcoin ETF in January. A 21Shares spokesperson confirmed that the fund will continue to attempt to launch the 21Shares Core Ethereum ETF without Ark Invest as a partner.
