Critical Milestone Achieved: Ethereum ETFs Poised to Start Trading Soon
The long-awaited opening of Ethereum ETFs is finally within reach, as several firms have filed updated registration statements. These filings, submitted just before the end of the workweek, provide crucial information on seed investments and fees, awaiting approval from the Securities and Exchange Commission.
On Friday afternoon, notable firms such as BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy, and 21Shares filed these updated statements. Two issuers have already disclosed their fees. In May, Franklin Templeton set its fee for the Ethereum ETF at 0.19%, while VanEck announced yesterday that its fee will be set at 0.20%.
Eric Balchunas, a senior analyst at Bloomberg ETF, commented on the fee disclosures, stating, “VanEck is also involved, and their fee will also be 0.20%, which is quite low, similar to Franklin’s 0.19% fee. This puts pressure on BlackRock to at least stay below 0.30%. It appears that Ethereum will have fees as low as Bitcoin or even lower.”
Furthermore, firms disclosed their seed investments on Friday. For instance, 21Shares, the backer of the 21Shares Core Ethereum ETF, revealed that the fund’s core equity investor purchased 20,000 shares on June 18, resulting in a seed investment of $340,739.
Analysts predict that these Ethereum ETFs will commence trading around July 2.
Please note that this article does not provide investment advice.
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