Is the Ethereum spot ETF really going to pass?
On Monday (15th), Bloomberg Intelligence senior ETF analyst Eric Balchunas revealed in a tweet that the U.S. Securities and Exchange Commission (SEC) appears to be about to approve an Ethereum spot ETF within a week.
According to Balchunas, the SEC may not propose further amendments to the recently submitted Form S-1. Issuers need to submit the final version of the S-1 document by Wednesday (16th), which will be released next Monday (22nd). ) and will be officially opened for trading next Tuesday (23rd).
On Monday, only a few issuers such as VanEck and Invesco Galaxy disclosed management fees and transaction fee ratios. However, as the day went by, Eric Balchunas’ prediction seemed likely to come true, because just last night, various issuers successively submitted reports to U.S. Securities and Exchange Commission. After the Exchange Commission (SEC) submitted the S-1/A and other documents of the Ethereum spot ETF, the fees of the current 9 Ethereum spot ETFs have been announced.
Nine major publishers compete
There are currently many issuers participating in this competition, and last night they submitted revised S-1/A forms to the SEC, disclosing their respective management fees and transaction fee ratios. The following are the major issuers' Fee details:
BlackRock Ethereum Spot ETF: Fees 0.25%, 0.12% on first $2.5 billion or 12 months, ticker ETHA.
Fidelity Ethereum Spot ETF: Fees 0.25%, no management fees for all of 2024, ticker FETH.
Bitwise Ethereum Spot ETF: Fees 0.2%, 0% on first $500 million or first 6 months, symbol ETHW.
21Shares Ethereum Spot ETF: Fees 0.21%, 0% on first $500 million or first 12 months, ticker GETH.
VanEck Ethereum Spot ETF: Fees 0.2%, 0% on first $1.5 billion or 12 months, ticker ETHV.
Invesco Galaxy Ethereum Spot ETF: Fees 0.25%, ticker QETH.
Franklin Ethereum Spot ETF: Fees 0.19%, 0% on $10 billion before January 31, 2025, symbol EZET.
Grayscale Ethereum Spot ETF: Fees 2.50%, ticker ETHE.
Grayscale Ethereum Mini Spot ETF: Fees 0.25%, 0.12% on first $2 billion or 12 months, ticker ETH.
Could fee disclosure be the final step?
This time, the nine major issuers were able to submit the revised S-1/A form in a short period of time and disclose the fee ratio, which shows that the issuers are highly optimistic about the Ethereum spot ETF and hope to attract investors through preferential fees, especially This is the "free" strategy of BlackRock and Fidelity, which shows strong competition for market share.
With the announcement of fees, the SEC may soon approve Ethereum spot ETF trading, which is not only a major benefit to the cryptocurrency market, but will also further promote the mainstreaming of Ethereum, allowing more investors to pass traditional Financial instruments to participate in Ethereum investments without having to buy and save cryptocurrencies directly.
Secondly, this will also drive the application and approval of other cryptocurrency spot ETFs, further enriching the types of cryptocurrency investment products, which will have a positive impact on the healthy development of the cryptocurrency market and the entry of traditional investors.
