Fund manager VanEck plans to initially waive fees on its potential spot Ethereum exchange-traded fund to remain competitive, a VanEck executive said Tuesday.
Matthew Sigel, head of digital asset research at VanEck wrote In the X post that quotes him: comment “We aim to be the leader in cryptocurrency ETF fees, even if we lose money initially,” the company told ETF.com.
“The plan is to increase the volume. “In this case, it’s decentralized finance at scale,” he said, adding that the company hopes to encourage more investors to “explore the potential role Ethereum can play within their investment portfolios.”
Sigel’s comments come from VanEck. I submitted Form 8-A. Ethereum products on Tuesday, reflecting further progress in the spot Ethereum ETF.
VanEck’s new form filing is “just part of the process,” Bloomberg ETF analyst Eric Balchunas said in a post to X.
Last month, the Securities and Exchange Commission approved Form 19b-4s for eight spot ether ETFs. However, regulators must approve the registration statement to become effective before trading can begin.
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