Companies are fighting to secure a foothold. Ethereum ETH
-0.44%
Marketplace Exchange Traded Funds filed its revised registration statement in the final hours of the week. These filings provided additional details on seed investments and fees, pending final approval by the Securities and Exchange Commission.
BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy and 21Shares filed revised statements Friday afternoon. So far, two of the issuers have disclosed their fees. Last May, Franklin Templeton fee For the Ethereum ETF it is 0.19%. VanEck on Friday revealed The fee is set at 0.20%.
“VanEck is participating and the fee will be 0.20%, which is very low compared to Franklin’s 0.19%,” said Eric Balchunas, senior analyst for Bloomberg ETFs. post On Friday “It adds to the pressure on BlackRock to stay below 30 bps at least. So far, it looks like Eth will have lower or even lower fees than BTC.”
SEC Approved Form 19b-4 for eight Ethereum ETFs last month. Issuers must have a registration statement called an S-1 (or S-3 in the case of Grayscale looking to convert an Ethereum Trust into an ETF) in effect before trading can begin. Earlier this year, the SEC approved a number of spot Bitcoin ETFs. charge Closer to 0.21% and 0.39%.
The companies also disclosed seed investments on Friday. 21 Shares US LLC, which serves as the sponsor of the 21Shares Core Ethereum ETF, was a seed capital investor in the fund, the company said in the amendment. filing. The sponsor purchased 20,000 shares on June 18 and added a seed investment of $340,739, according to the filing.
“As Seed Capital Investor, 21Shares US LLC acted as statutory underwriter in connection with this purchase,” 21 Shares said. “The trust’s total proceeds from the sale of the initial seed generation baskets were $340,739.”
Franklin Templeton also disclosed seed investments totaling $100,000 in the amendment. filing In the case of Franklin Ethereum ETF.
grayscaleAdded more disclosures about Ethereum and risks to revised filings with other issuers.
modified registration name A filing was also made on Friday for the Invesco Galaxy Ethereum ETF, which disclosed that it had received a $100,000 seed investment from Invesco Ltd.
Balchunas said he expects the product to be: start Until July 2nd.
Updated June 21 at 9:45 PM UTC to include details about the Invesco Galaxy Ethereum ETF.
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