VanEck and Franklin Lead the Way by Submitting Revised Documents for Ethereum Spot ETF Disclosing Management Fees
Yesterday evening, several Ethereum spot ETF issuers submitted revised S-1 forms, with VanEck and Franklin Templeton being the first to disclose significantly low management fees, putting pressure on BlackRock and other issuers. At the same time, Bloomberg analyst Eric Balchunas also predicted that the Ethereum spot ETF would be approved for listing on July 2nd.
Table of Contents
Toggle
Ethereum spot ETF issuers submit revised documents one after another
VanEck and Franklin Templeton are the first to disclose management fees
Disclosure of seed investments
Bloomberg analyst: Intense fee competition, ETF expected to launch on July 2nd
The final step before the listing of the Ethereum ETF
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 the S-1 form to the U.S. Securities and Exchange Commission (SEC).
Among them, VanEck (ETHV) and Franklin Templeton were the first to publicly disclose the management fees for their Ethereum spot ETFs, which are 0.20% and 0.19%, respectively.
VanEck (ETHV) management fee
Franklin Templeton 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 approximately $340,000 for its company, 21Shares US LLC.
Franklin Templeton received a total investment of approximately $100,000.
Invesco Galaxy received an investment of approximately $100,000 for its company, Invesco Ltd.
Fidelity received an investment of approximately $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 documents, Pantera Capital to buy $100 million in shares)
Bloomberg analyst Eric Balchunas pointed out that VanEck’s extremely low management fee is putting pressure on BlackRock, and requested that its fees remain below 0.3%:
Currently, the fees for the Ethereum spot ETF are expected to be as low as or even lower than the previous Bitcoin spot ETF.
He also added that issuers such as Fidelity, Bitwise, and 21Shares have not yet disclosed their management fees, suggesting that everyone may wait until the last minute or until BlackRock discloses its fees before making their fees public.
At the same time, the analyst also made a prediction yesterday about the launch of the Ethereum spot ETF, stating that it will be launched on July 2nd this year.
(Bloomberg analyst: Ethereum spot ETF may be listed in early July)
Previously, the SEC officially approved the 19b-4 forms for 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 the Ethereum spot ETF and sought regulatory approval for a new type of ETF that combines Bitcoin and Ethereum spot.
(Hashdex applies for Bitcoin Ethereum hybrid spot ETF)
However, as the final step before the listing and commencement of trading of the Ethereum ETF, its S-1 registration statement must become effective, and the relevant documents have been revised multiple times in the past few weeks. In the current fierce competition, which issuer’s product can stand out is still highly anticipated.
Eric Balchunas
ETF
VanEck
Ethereum
Ethereum spot ETF
Franklin Templeton
Related Readings
BlackRock BUIDL surpasses Franklin FOBXX in market value within six weeks, becoming the world’s largest tokenized fund
The battle between traditional finance and DeFi’s real-world assets (RWA): Franklin FOBXX vs. Ondo Finance
