Revised proposal sparks interest
In a significant development for cryptocurrency investing, several asset managers have revised their Ethereum ETF proposals. The updates, filed with the SEC on June 21, indicate that they are ready for a July launch. VanEck, BlackRock, Grayscale, Invesco Galaxy Digital, and Fidelity are among the firms fine-tuning their offerings.
Competitive fee structure
VanEck’s filing sets a competitive benchmark in the industry by disclosing a 0.20% management fee for the Ethereum fund. The move puts pressure on other asset managers like BlackRock to keep their fees low. Fidelity’s updated filing shows strong support from FMR Capital, which seeded $4.7 million at $38 per share.
Expected regulatory approval
The SEC’s approval of a rule change in May gave the green light for eight major asset managers to list and trade spot Ether ETFs. This regulatory milestone is expected to pave the way for Ether ETFs to debut on Wall Street exchanges. Hashdex is also seeking approval for a new ETF combining spot Bitcoin and Ether, diversifying the cryptocurrency ETF landscape.
With SEC approval and aggressive strategies from asset managers, the upcoming Ether ETF is expected to open up new avenues for investors looking to tap into the potential of the digital currency.