Amendment Submission by Ethereum Spot ETF Issuer VanEck and Franklin First to Disclose Management Fees
Yesterday evening, several Ethereum spot ETF issuers submitted revised S-1 forms, with VanEck and Franklin being the first to disclose relatively low management fees, putting pressure on BlackRock and other issuers. At the same time, Bloomberg analyst Eric Balchunas also predicted that Ethereum spot ETFs will be approved for listing on July 2nd.
Contents:
Toggle
Ethereum spot ETF issuers submit revised documents one after another
VanEck and Franklin are the first to disclose management fees
Disclosure of seed investments
Bloomberg analyst: Intense competition in management fees, ETF expected to launch on July 2nd
The final step before the listing of Ethereum ETFs
After the market closed yesterday, several asset management companies, including BlackRock, VanEck, Franklin Templeton, Fidelity, Grayscale Investments, Invesco Galaxy, and 21Shares, submitted revised documents for S-1 forms to the U.S. Securities and Exchange Commission (SEC).
Among them, VanEck (ETHV) and Franklin were the first to publicly disclose the management fees of their Ethereum spot ETFs, which are 0.20% and 0.19%, respectively.
VanEck (ETHV) Management Fee
Franklin Ethereum Spot ETF Management Fee
However, issuers such as Fidelity, Bitwise (ETHW), 21Shares, and BlackRock (ETHA) have not yet disclosed their management fees.
In addition, they also disclosed the amount of seed investments they received.
21Shares received an investment of about $340,000 for its company 21Shares US LLC.
Franklin received a total investment of about $100,000.
Invesco received an investment of about $100,000 for its company Invesco Ltd.
Fidelity received an investment of about $4.7 million for its subsidiary FMR Capital.
A few days ago, ETF issuer Bitwise also revealed in its updated S-1 form that crypto venture capital firm Pantera Capital will invest $100 million in its product (code ETHW).
(BItwise Updates Ethereum Spot ETF Filing, Pantera Capital to Purchase $100M Shares)
Bloomberg analyst Eric Balchunas pointed out that VanEck’s extremely low management fees are putting pressure on BlackRock, requesting its fees to remain below 0.3%. It appears that the fees for Ethereum spot ETFs will be as low as or even lower than those for previous Bitcoin spot ETFs.
He also added that issuers such as Fidelity, Bitwise, and 21Shares have not yet disclosed their management fees, suggesting that everyone may be waiting until the last moment or for BlackRock to disclose its fees before making their fees public.
At the same time, the analyst also made a prediction about the launch of Ethereum spot ETFs, stating that it will happen on July 2nd this year.
(Bloomberg Analyst: Ethereum Spot ETF Could Be Listed in Early July)
Previously, the SEC officially approved the 19b-4 forms of eight Ethereum spot ETFs at the end of May, allowing the aforementioned asset management companies to list and trade eight Ethereum spot ETFs. At that time, issuer Hashdex withdrew its application for an Ethereum spot ETF and sought regulatory approval for a new type of ETF combining Bitcoin and Ethereum spot.
(Hashdex Applies for Bitcoin Ethereum Hybrid Spot ETF)
However, as the final step before the listing and trading of Ethereum ETFs, its S-1 registration statement must become effective, and related documents have been revised multiple times in the past few weeks. In the current intense competition, which issuer’s product can stand out is still highly anticipated.
Eric Balchunas
ETF
VanEck
Ethereum
Ethereum spot ETF
Franklin Templeton
Read more:
BlackRock’s BUIDL market value surpasses Franklin FOBXX in six weeks, becoming the world’s largest tokenized fund
The real-world asset (RWA) battle between traditional finance and DeFi: Franklin FOBXX vs. Ondo Finance
