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S-1 Grand Prix. The Race for Ethereum Spot ETFs is launched, since the official approval of the SEC at the end of last May. The objective now is to validate the S-1 forms, purported to detail the operating model of these exchange-traded funds. A regulatory back-and-forth exercise whose duration remains indefinite and legally not limited. The opportunity for list managers review their copieson topics like the fees applied or the amount of their startup investment. We take stock!
Lower fees than cash Bitcoin ETFs?
Things are becoming clearer, as part of the upcoming launch of ETF Ethereum au compant. It must be said that time is running out, if we refer to the date of July 2 as that of their effective listing on the United States stock market.
The last step necessary is to Validate S-1 forms of the various managers of these funds. A document in which essential elements are specified, such as the fees applied to these financial vehicles version cryptocurrencies.
In the field, it is the investment company Franklin Templeton which sets the trend. This following the submission of his form last May, in which the amount of this levy was set at 0.19%. For comparison, spot Bitcoin ETF fees are between 0.21% and 0.39% !
A rate considered as “ damn low » by ETF specialist for Bloomberg, Eric Balchunas. And as competition is required, this base is essential as the master standard of other fund managers – for now only VanEck – in search of share of this emerging market.
“VanEck is in, as is their fee, which will be 0.20%, which is pretty darn low, right around Franklin’s 0.19%. (…) So far it appears that Ethereum will have fees as low as, or even lower than, Bitcoin. »
The July 2 deadline is approaching!
Another essential point of these forms concerns the start-up capital of these funds applied to Ethereum. Data to which the company 21Shares contributed some details at the end of last week. Because its sponsor, 21 Shares US LLC, purchased 20,000 shares on June 18. An operation which allows it to increase its seed investment by 340 739 $.
At the same time, Franklin Templeton declared initial funding of 100 000 $. That is to say an amount for the moment identical to the Invesco Galaxy ETFalso registered in this race.
No real details of this type from fund managers Grayscale or BlackRockfor the moment visibly focused on more technical details. While at the same time, the SEC faces litigation initiated by the company Consensys. But the deadline for July 2nd fast approaching. This week should therefore see the arrival more precise bases for all of these spot Ethereum ETFs.
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