Asset Managers Eye July Launch for Updated Ether ETFs
2 min read
Asset Managers Eye July Launch for Updated Ether ETFs
Several leading asset management firms submitted updated proposals for an Ethereum exchange-traded fund (ETF) to the United States Securities and Exchange Commission (SEC) on June 21. Notably, VanEck, BlackRock, Grayscale, and Invesco Galaxy Digital released revised S-1 Registration Statements after the closing of the markets on that Friday. Earlier in the day, Fidelity also filed a new S-1 form with the SEC.
VanEck’s filing detailed a 0.20% management fee for its Ethereum fund, a rate that is in line with its competitors such as Franklin Templeton, which set their management fee at 0.19%. BlackRock has not yet disclosed the fee for its iShares Ethereum Trust (ETHA). Bloomberg analyst Eric Balchunas noted that VanEck’s fee could put some “pressure on BlackRock to stay under the 30bps at least.”
The submissions were part of ongoing amendments that the firms have been sending to the SEC over the past weeks. The approval of the S-1 form represents one of the final procedural steps before these funds can be traded on Wall Street exchanges. Balchunas forecasts that these funds will begin trading in the first week of July, just in time for the U.S. Independence Day holiday.
In May, the SEC approved a rule change that enabled major asset managers to list and trade eight spot Ether ETFs. This approval included firms such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. In their recent filing, Fidelity disclosed that one of its affiliates, FMR Capital, had seeded $4.7 million at $38 per share.
Bitwise also made updates to its ETF proposal with the SEC on June 19. Their proposal highlights a potential investment of $100 million from Pantera Capital upon the ETF’s launch. Hashdex, which earlier abandoned its plans for an Ethereum-specific ETF, is now seeking regulatory approval for a new ETF that would combine spot Bitcoin and Ether.
These firms appear to be in a race to launch their ETFs, aiming to attract investors as interest in cryptocurrencies and blockchain technology continues to grow. The competitive management fees set by firms like VanEck and Franklin Templeton suggest that they are keen to provide cost-efficient options to potential investors.
Observers are particularly interested in how BlackRock, one of the largest asset managers in the world, will position its ETF in terms of fees. The firm’s decision could influence the overall pricing strategy in the burgeoning Ether ETF market.
As the SEC continues to review these proposals, it remains to be seen which firm will be the first to launch its Ethereum ETF. The imminent debut of these funds marks a significant milestone in the integration of cryptocurrency into mainstream financial products. If successful, these ETFs could pave the way for other digital asset funds and further solidify the role of cryptocurrencies within the broader financial market.
Its disappointing to see the SEC spend time on these proposals instead of addressing the real issues within the crypto industry.
The news that Fidelity seeded $4.7 million is mind-blowing. Shows strong institutional support for Ethereum. The future of finance is here! 🏆
Adding more middlemen into the crypto space defeats the entire purpose of decentralization. These ETFs are a step backward. ⏪🔗
Wow, this is fantastic news! Seeing major firms like VanEck, BlackRock, and Fidelity moving into the Ethereum ETF space shows how far crypto has come. Can’t wait to see the future of digital assets!” 💹
Great, another way for Wall Street to get richer while the average investor bears all the risk. No, thank you!
A major milestone for crypto acceptance. Having the SEC involved lends so much legitimacy to digital assets. Go Ethereum!
A monumental moment for Ethereum and all of crypto. Can’t wait to see these ETFs take off and pave the way for more innovative financial products.
It’s frustrating that smaller, independent crypto projects get overlooked while these big firms get all the attention and approval.
These asset managers are too eager to jump on the crypto bandwagon. Makes you wonder if they really understand the technology or are just chasing trends.
Super excited to see how BlackRock positions its iShares Ethereum Trust. Their fee structure could set a new standard in the market. Onwards and upwards!
Looking forward to seeing how the SEC reviews these proposals. The Ethereum ETF landscape is about to get very exciting!
Why should we trust these big firms with our Ethereum investments? They don’t have a track record in crypto! 🤔👎
Seeing traditional financial giants like Fidelity and Grayscale in the crypto space feels surreal. Big win for the crypto community! 💡
Management fees may be low now, but they can easily hike them up once they have enough people roped in. Classic bait and switch.
Ethereum ETFs are a great opportunity for retail investors to get involved in crypto without the hassle of buying and holding the currency. Well done!
Great job by VanEck and Franklin Templeton setting competitive fees. This will definitely attract more investors. Ethereum ETFs, here we come!
VanEck’s management fee is really attractive. It’s great to see the competition heating up, which can only be good for investors in the long run.
This is huge! Not just for Ethereum but for the entire crypto ecosystem. Integrating crypto with traditional finance is the future and it’s happening now!
Balchunas’ prediction about ETF trading starting by early July has me hyped! Major asset managers jumping into the Ether ETF pool is a strong signal of confidence.
Congrats to all the firms like VanEck, BlackRock, and Fidelity for making significant strides! Ethereum ETFs are set to revolutionize how we invest.
The management fees might look low, but they will eat into our returns over time. These firms are just trying to make a quick buck.
This really marks a significant milestone in crypto adoption. Seeing such reputable firms submitting ETF proposals is truly encouraging. One step closer to mainstream crypto integration!
Why is there so much hype around these ETFs? Theyre just old financial products with a new crypto wrapper. Nothing revolutionary here.
Crypto is evolving fast! An Ethereum ETF in the traditional market is a giant leap. Excited for the future!
Ethereum is going mainstream! Such proposals from big firms indicate strong institutional trust. The dawn of a new financial era! 🌅
I really don’t trust the SEC to regulate these crypto ETFs properly. They’ve been too inconsistent and slow with their decisions.
The battle of the Ethereum ETFs has begun. Who will take the lead? This is great for crypto investors looking for reliability and competitive fees.
Finally, some solid steps towards mainstream cryptocurrency adoption! Encouraging to see big names like BlackRock and VanEck leading the way.
Ethereum ETFs launching just in time for the 4th of July is such a bombshell! I’m thrilled to see the advancement in digital asset funds. 💥
Such news brings immense hope for mainstream adoption of cryptocurrencies. Ethereum ETFs could be the spark we need!
VanEck and BlackRock might be household names, but their entry into the crypto ETF space feels more like a marketing ploy than a genuine effort to serve investor interests. 🙄🤑
This is just another blatant cash grab by the asset management firms. All they care about is raking in fees from unsuspecting investors.
These ETFs will likely create unnecessary volatility in the Ethereum market, making it risky for genuine blockchain believers.
Big respect to VanEck for setting a competitive fee. It’s going to be interesting to see how other firms respond, especially BlackRock.
Independence Day just got more exciting! The potential launch of Ether ETFs in early July is incredible. I love seeing big players like BlackRock and Fidelity getting involved. Let’s go crypto!!
The race to launch these ETFs feels like a gimmick. These firms should focus more on educating investors rather than rushing products to market. 📈💡
I’m so interested in seeing how BlackRock will set their management fee. The competition among these big firms could benefit us all!
Ethereum ETFs could be a game-changer! Kudos to all the firms for pushing this forward. It’s exciting to witness mainstream financial products embracing crypto.
Just another Wall Street play to manipulate the market. They dont care about the small investors at all.
Pantera Capital’s potential $100 million investment upon ETF’s launch is insane! Shows tremendous confidence in Ethereum’s future.