News - Ethereum ETF applicants file amendments with the SEC

By Luc Vesters

Ethereum ETF applicants file amendments with the SEC

Numerous asset managers in the U.S. have filed revisions to their Ethereum ETF applications with the Securities and Exchange Commission. This is according to tweets from Bloomberg ETF analyst Eric Balchunas. According to the report, BlackRock, VanEck, Grayscale, Galaxy Digital and Fidelity filed their S1 documents last Friday night.

These documents provide information on the fee structure of some ETFs, as well as the planned initial capital, called "seeding." VanEck, for example, has a management fee of 0.20 percent. At Franklin Templeton, it is 0.19 percent.

According to Balchunas, this now puts pressure on BlackRock to keep its fees "below 30 basis points," or 0.3 percent. So far, the world's largest asset manager has not published detailed information on this. BlackRock did, however, disclose an initial investment of USD 10 million for its iShares ETHA Trust. At Fidelity, it is USD 4.7 million.

It was also announced last week that Pantera Capital's crypto fund planned to invest USD 100 million in Bitwise's Ethereum ETF. According to initial estimates, ETH ETFs could account for between 10 and 30 percent of Bitcoin ETF inflows.

With the latest round of applications, the Securities and Exchange Commission will likely allow ETF trading as early as next week. According to Balchunas, a July 2 launch is realistic. During a congressional hearing, SEC Chairman Gary Gensler said he expected approval "later this summer."

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