Several asset management companies have recently submitted changes to their Ethereum ETF products to the U.S. Securities and Exchange Commission (SEC).
On June 21, VanEck, BlackRock, Grayscale, and Invesco Galaxy Digital updated their S-1 filings following the market close. Earlier that same day, Fidelity also filed a new form with the SEC.
VanEck’s updated filing revealed a management fee of 0.20% for their Ethereum fund, which is close to the proposed 0.19% by Franklin Templeton. BlackRock has not yet announced the management fee for their iShares Ethereum Trust (ETHA). Bloomberg analyst Eric Balchunas noted that VanEck’s fee could put pressure on BlackRock to keep theirs below 30 basis points.
These changes follow previous filings in recent weeks. Approval of the S-1 forms is among the final steps before these funds can debut on Wall Street exchanges. Balchunas expects these ETFs to launch in the first week of July, just before Independence Day in the U.S.
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In May, the SEC approved a rule change allowing large asset managers to list and trade eight spot Ethereum ETFs. Among these managers are VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
On June 19, Bitwise updated its ETF proposal with the SEC, highlighting a potential $100 million investment from Pantera Capital at fund launch.
Additionally, Hashdex is seeking regulatory approval for a new spot ETF that combines Bitcoin and Ethereum. This comes after Hashdex recently decided to abandon plans for an ETF solely focused on ETH.
