tl;dr
Major asset management firms like BlackRock, Franklin, Bitwise, Invesco, Grayscale, and Fidelity have amended their S-1 forms for Spot Ethereum ETFs, indicating a possible listing next week. They have set their management fees, suggesting that they are in the final stages of preparation for trading....
Spot Ethereum ETF Developments Major Asset Managers File Amended S-1 Forms for Spot Ethereum ETFs
Major asset management firms, including BlackRock, Franklin, Bitwise, Invesco, Grayscale, and Fidelity, have amended their S-1 forms for Spot Ethereum ETFs, indicating a possible listing next week. They have set their management fees, suggesting that they are in the final stages of preparation for trading.
Management Fees:
BlackRock and Invesco charge a 0.25% fee, while Franklin Templeton has the lowest fee at 0.19%. Grayscale charges a higher fee of 2.5% for its Ethereum Trust.
Anticipated Launch:
The SEC is expected to approve the launch of these ETFs on July 23, following the approval of Grayscale and ProShares' spot Ethereum ETFs on the NYSE.
Fees and Waivers Details for Select Firms
BlackRock: 0.25% fee, with the ability to waive all or a portion of the fee for certain periods. Payable on a quarterly basis.
Bitwise: 0.20% fee with an initial discount for the first $500 million in assets.
Grayscale: Charges a higher fee of 2.5% for its Ethereum Trust, while its mini Ethereum ETF will have a 0.25% fee with a waiver of up to $2 billion or up to 12 months.
Franklin Templeton: 0.19% fee with a waiver of up to $10 billion until January 31st, 2025.
Fidelity: 0.25% fee with exemption until the end of 2024.
Expected Launch Approval
Several sources suggest that the Spot Ethereum ETFs will start trading from Tuesday, July 23, after the SEC's approval of the final S-1 forms from the issuers.
SEC Approves Grayscale and ProShares
The US SEC has given the green light to Grayscale Ethereum Mini Trust and ProShares Ethereum ETF to list on the New York Stock Exchange's Arca electronic platform, paving the way for a potential launch by July 23.
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