Update on Ethereum ETF Providers Filings Includes Fee and Investment Details

Asset managers such as VanEck, BlackRock, Grayscale, Invesco Galaxy Digital, and Fidelity have submitted revised proposals for Ethereum exchange-traded funds (ETFs) to the United States Securities and Exchange Commission (SEC). These filings provide updated information on their respective Ethereum funds. VanEck disclosed a management fee of 0.20% for its Ethereum fund, while BlackRock has not yet announced its fee structure. Analyst Eric Balchunas suggests that VanEck’s fee announcement puts pressure on BlackRock to keep their management fees below 0.30%. The approval of the S-1 registration statement is one of the final steps before the ETFs can debut on Wall Street exchanges. It is predicted that the funds will launch in the first week of July. In May, the SEC approved a rule change that allowed major asset managers to list and trade eight spot Ether ETFs. Fidelity’s updated filing revealed that FMR Capital has seeded the fund with $4.7 million. Bitwise also updated its ETF proposal, indicating a potential $100 million investment from Pantera Capital. Hashdex is seeking regulatory approval for a new ETF that combines spot Bitcoin and Ether. Bloomberg ETF analyst James Seyffart believes that the approval of spot Ethereum ETFs was influenced by political decisions. He suggests that the political climate and responses from the crypto community played a significant role in the approval. Approval for other crypto ETFs, such as Solana, is unlikely without significant regulatory changes. However, crypto investor Brian Kelly believes that Solana could potentially be the next cryptocurrency to have a spot ETF in the United States. Bitwise has launched its first Ether ETF commercial, which highlights the advantages of Ethereum and can be minted on the Ethereum blockchain.