ETF issuer VanEck is kicking off an Ethereum spot ETF fee war, waiving fees on the first $1.5 billion in funds. In addition, VanEck filed a Form 8-A with the SEC yesterday (6/25), a move that means the issuer can trade on the exchange once the product is approved. Bloomberg analyst Eric Balchunas said it was a good sign that the Ethereum spot ETF was approved for listing on July 2.

VanEck launches Ethereum spot ETF fee war

Matthew Sigel, head of digital asset research at VanEck, said:

VanEck’s goal is to be the leader in crypto ETF fees, even if it means we lose money initially.

If the ETF exceeds $1.5 billion in assets by 2025, it will charge a fee of 0.20% on assets above $1.5 billion, according to its filing. After 2025, the maintenance fee is 0.20%.

VanEck’s plan is to make up for it through transaction volume, which Sigel specifically explained, in this case, refers to decentralized finance transaction volume.

More on-chain activity = more ETH gas consumption = higher ETH price = higher VanEck ETH ETF

HODL actively seizes the market

VanEck, also a Bitcoin spot ETF issuer, lowered fees for its VanEck Bitcoin ETF (HODL) about two months after its launch in an attempt to increase inflows. VanEck reduced fees on the ETF through March 31, 2025, until it reaches $1.5 billion in assets, after which it resumes charging a 0.2% fee. As of June 25th, HODL had an inflow of approximately US$518 million, with an asset size of US$611 million. Among all Bitcoin spot ETFs, the inflow scale ranks fifth after BlackRock, Fidelity, Ark and Bitwise.

As can be seen from the figure below, after the fee reduction, its capital inflow suddenly increased, with inflows reaching as high as US$200 million in two days.

VanEck files Form 8-A, will Ethereum spot ETF be approved?

On the evening of last Friday (6/21), a number of Ethereum spot ETF issuers successively submitted revised S-1 forms. Among them, VanEck and Franklin were the first to announce very low management fees, which were 0.20% and 0.19% respectively. , putting pressure on BlackRock and other issuers.

VanEck submitted another Form 8-A to the U.S. Securities and Exchange Commission (SEC) yesterday (6/25). This move means that once the product is approved, the issuer can trade on the exchange, symbolizing Ethereum. Spot ETFs are making progress. Bloomberg analyst Eric Balchunas also said it was a good sign that the Ethereum spot ETF would be approved for listing on July 2.

SEC Chairman Gary Gensler also said at the Bloomberg Investment Summit that the listing process of the Ethereum spot ETF is "going smoothly," but he was not sure of the specific approval time.

(Gary Gensler: Ethereum spot ETF approval progress is "smoothly underway")

This article VanEck sets off a fee war, and the Ethereum spot ETF is expected to be listed on July 2 first appeared on Chain News ABMedia.