Major asset managers including BlackRock have submitted updated filings with the SEC to create spot Ethereum exchange-traded funds (ETFs). These applications require initial investments of between $100,000 and $10 million and fees as low as 0.19%.
Experts believe this increases the likelihood of an ETF launch in early July.
On June 21, companies including BlackRock, VanEck, Franklin Templeton, Grayscale, Invesco Galaxy, 21Shares and Fidelity filed amended S-1 registration statements with the SEC. These applications contain detailed information about the initial investment and fees. This bolsters confidence that these ETFs could begin trading soon.
Some firms have also disclosed their fee structure. Franklin Templeton, for example, set fees at 0.19% with a six-month waiver on up to $10 billion in assets. VanEck's fee is 0.20% with a waiver for the first $1.5 billion.
Bloomberg analyst Eric Balchunas called the fees "pretty damn low" and expressed interest in seeing Grayscale's fees. He also noted that these low fees keep BlackRock below 30 basis points (bps), and ETH fees are likely to be as low or lower than Bitcoin.
S-1 approval is an important step before trading begins, and Eric Balchunas forecasts the funds' launch in early July. He also noted that the SEC should inform issuers of any final changes and effectiveness, and we expect this to happen soon.
Crypto hedge fund founder Quinn Thompson believes Ether ETF products could outperform expectations due to the recent hype around them. He cautions against focusing too much on initial inflows, which could miss the broader impact on the digital asset.
Over the past two years, the industry has favored BTC and SOL. However, the launch $ETH
An ETF will result in a significant re-rating of the asset. Once BTC stabilizes, ETH will begin to shine, Quinn Thompson said.
Eric Balchunas, who was previously dismissive of ETH ETFs, now admits that they could reach 20% of Bitcoin ETF spot inflows. He said he takes it back and believes ETH could capture 20% of the assets held by Bitcoin ETFs.
Major asset management firms have filed updated applications for Ethereum spot ETFs, detailing initial investments ranging from $100,000 to $10 million and fees as low as 0.19%. These filings increase confidence that the ETFs will launch soon, possibly in early July.
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