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Analysts anticipate that Ether ETFs will launch in the first week of July. On June 21, several asset managers submitted revised proposals for Ethereum exchange-traded funds (ETFs) to the United States Securities and Exchange Commission (SEC).
VanEck, BlackRock, Grayscale, and Invesco Galaxy Digital filed updated S-1 Registration Statements after market close on Friday. Earlier the same day, Fidelity also submitted a new S-1 form to the SEC.
VanEck’s filing detailed a 0.20% management fee for its Ethereum fund, comparable to competitors like Franklin Templeton, which charges a 0.19% management fee. BlackRock has not yet disclosed the management fee for its iShares Ethereum Trust (ETHA).
Bloomberg analyst Eric Balchunas noted that VanEck’s fee could pressure BlackRock to keep its fees below 30 basis points.
Previous amendments were filed with the SEC over the past few weeks. The approval of the S-1 form is one of the final steps before the funds can debut on Wall Street exchanges. Balchunas forecasts that these funds will launch in the first week of July, just before the U.S. Independence Day holiday.
In May, the SEC approved a rule change allowing major asset managers to list and trade eight spot Ether ETFs. These include funds from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
Fidelity’s updated filing revealed a seeding of $4.7 million at $38 per share by FMR Capital, one of its affiliates. Bitwise also updated its ETF proposal on June 19, indicating a potential $100 million investment from Pantera Capital at the ETF’s trading launch.
Additionally, Hashdex is seeking regulatory approval for a new ETF that combines spot Bitcoin and Ether. Recently, Hashdex abandoned plans to launch an ETF solely dedicated to Ether.