Ethereum
BlackRock Reveals Competitive 0.25% Fee for Ethereum Spot ETF as Issuers Update Filings
Several spots Ethereum (ETH) ETF applicants submitted S-1 amendments detailing sponsorship fees and waiver details to the SEC on July 17 as they prepare for a potential commercial launch next week.
Almost all issuers have detailed the fees and conditions for sponsorship fee waivers in their most recent filings.
Black rock set a referral fee of 0.25% and said it would charge only a 0.12% fee for the first 12 months or up to $2.5 billion upfront. loyalty set the same fee at 0.25% and said it would waive the entire referral fee until December 31 without any further conditions.
21 Shares And Bitwise They added fees of 0.21% and 0.2%, respectively, which they will waive entirely for the first six months or up to $500 million.
Shades of grey added a 2.5% fee to its main spot Ethereum ETF, converted from the Grayscale Ethereum Trust. It added a 0.25% fee and a 12-month waiver to its ETH mini trust, which is valid for up to $2.0 billion.
Franklin Templeton The company reaffirmed its 0.19% fee and its decision to waive the fee for the first $10 billion in assets. The company added that the waiver period will last until January 31, 2025.
Van Eck Invesco also reaffirmed its 0.20% fee and said its fee waiver period would last 12 months from launch or up to $1.5 billion. Galaxy also reaffirmed its 0.25% fee and 0.25% origination fee.
ProShares has not submitted data on fees or waivers.
Launch pending
Eric Balchunas, Bloomberg ETF analyst commented on fees by asking whether each fund can generate meaningful inflows relative to the funds unlocked from Grayscale’s converted ETF.
Balchuans said:
“Do these newborns have enough strength to offset these BTC outflows. Anyway, the short story is [Grayscale’s] A 2.5% fee makes it a bit harder to achieve a decent net flow figure. We’ll see.
The latest additions represent one of the final steps toward approval.
The SEC approved proposed rule changes for ETH spot ETFs on May 23. The changes allow exchanges to list and trade the funds, but do not give asset managers the final green light needed to issue them.
According to industry sources, the funds are expected to obtain final approvals next week and begin trading on July 23.
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Mike Dalton
Journalist at CryptoSlate
Before starting his cryptographic writing career in 2018, Mike studied Library and Information Science. He currently resides on the west coast of Canada.
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AJ, a passionate journalist since the 2011 Arab Spring in Yemen, has honed his skills around the world for over a decade. Specializing in financial journalism, he now focuses on reporting on cryptocurrencies.