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Exciting Progress in Ethereum ETFs: Trading is Imminent – Here’s the Latest Update
The wait is finally over as critical developments pave the way for Ethereum ETFs to hit the trading floor. Here’s what experts have to say.
Written by:
Mete Demiralp
Date:
22.06.2024 – 06:27
Last Updated:
6 seconds ago
0
Several companies are racing to enter the Ethereum ETF market, with updated registration statements being filed.
These filings, submitted at the eleventh hour of the workweek, offer more insights into seed investments and fees as companies eagerly anticipate approval from the Securities and Exchange Commission.
Among the firms that submitted these updated statements on Friday afternoon are BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy, and 21Shares. So far, two issuers have revealed their fee structures. In May, Franklin Templeton set its Ethereum ETF fee at 0.19%. Yesterday, VanEck announced a fee of 0.20%.
In a recent post, Bloomberg ETF senior analyst Eric Balchunas commented on the fee disclosures:
“VanEck has also entered the fray with a 0.20% fee, on par with Franklin’s 0.19%. This puts pressure on BlackRock to keep their fee below 0.30%. It seems like Ethereum will boast fees as competitive as Bitcoin or even lower.”
Companies also disclosed their seed investments on Friday. 21 Shares, the main investor in the 21Shares Core Ethereum ETF, made a significant equity investment. As per their updated filing, the sponsor purchased 20,000 shares on June 18, contributing a seed investment of $340,739.
Analysts anticipate these ETFs to commence trading around July 2.
*Please note that this is not investment advice.
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