Institutions that applied for issuing ETH ETFs in the US submitted their S-1 applications to the Securities and Exchange Commission (SEC) on June 21. Many assume ETH ETFs are days away from launch and can come as soon as the first week of July before the US Independence Day celebrations.
Late last month, it approved the first round of applications, the 19b-4 filings submitted by the financial institutions. It then asked them to clarify its questions before submitting the S-1 applications. And that is what has transpired.
The SEC will now indulge in reviewing these applications. Once approved, the financial houses behind the applications can begin issuing their ETFs, and the instruments will finally launch on Wall Street exchanges. VanEck, Grayscale, BlackRock, Invesco Galaxy Digital, Franklin Templeton, Fidelity, 21 Shares, and more have sent in their S-1 filings thus far.
Those that already sent their applications have included details about the management fees for their ETFs – VanEck says it will charge 0.20% from investors. Franklin Templeton’s charges are around the same area at 0.19%. The rest are yet to disclose their fees.
When asked how long it may take to know the fees charged by these ETF providers on X, Bloomberg analyst Eric Balchunas replied, “Prob next week sometime. They can literally wait till nearly last min to add fees.” Regarding BlackRock’s fee, he mentioned, “Adds a touch of pressure on BlackRock to stay under 30bps at least,” talking about the fee structures of competitors VanEck and Franklin Templeton.
Furthermore, BlackRock’s filing disclosed a seeding of $10 million. Fidelity’s application revealed an investment of $4.3 million offered by FMR Capital at $38 a share. Bitwise’s updated filing from June 19 states it can receive investments of up to $100 million from Panthera Capital when it launches its ETF.
