Major financial institutions have updated their applications for spot Ethereum (ETH) exchange-traded funds.
In the run-up to potential upcoming spot Ethereum ETFs, major companies have made changes to their S-1 filings. The updated files included ETF participation fees and seed investment details.
Among the companies that updated their applications are BlackRock, Invesco Galaxy, VanEck, Franklin Templeton, Grayscale Investments and 21Shares.
Lower fees than Bitcoin
Bloomberg senior ETF analyst Eric Balchunas noted that participation fees for Ethereum spot ETFs are on par with Bitcoin ETFs, or even lower for some companies:
"Some companies, including VanEck, will have fees around 0.20%, which is quite low. Franklin Templeton's fee will be around 0.19%. This puts pressure on BlackRock to keep its fees at least below 0.30% “So far it looks like Ethereum ETFs will offer lower or even lower fees than Bitcoin.”
Last month, the SEC approved 19-4b filings for Ethereum ETFs. However, S-1 filings also need to be approved for final approval and trade authorization. Analysts estimate that this approval will come on July 2.
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