BlackRock, Fidelity, Franklin Templeton, and other issuers have updated their S-1 filings for spot Ethereum ETFs, hinting at a possible launch in July. While some issuers like Franklin Templeton and VanEck disclosed sponsor fees of 0.19% and 0.20% respectively, BlackRock and Fidelity have not revealed their fees yet.
Seven Ethereum ETF applicants updated their registration statements with the SEC on June 21, sparking optimism for an early July trading launch. Along with well-known names like BlackRock and Fidelity, Franklin Templeton, VanEck, Invesco Galaxy, 21Shares, and Grayscale made amendments to their filings.
Bloomberg ETF analyst Eric Balchunas suggested a potential launch date of July 2 for the funds, with expectations that Ethereum ETFs may not draw as much investment as Bitcoin ETFs. The disclosed sponsor fees by Franklin Templeton and VanEck, along with waivers for early assets, could put pressure on BlackRock to announce competitive fees for its fund.
Invesco Galaxy, Grayscale, and Fidelity revealed details about their seed investments, with transactions ranging from $100,000 to $10 million. These seed investments provide early capital for the ETFs and indicate confidence from investors in the potential success of these funds.
The launch of spot Bitcoin ETFs earlier this year led to a fee war among issuers, driving fees down to attract more investors. It will be interesting to see if a similar trend will occur with Ethereum ETFs once they are launched.
Overall, the updated S-1 filings and disclosed sponsor fees have set the stage for a potentially exciting launch of spot Ethereum ETFs in July. Investors are eagerly awaiting more details, including BlackRock’s sponsor fee, which could be a significant factor in the competition among ETF issuers in the coming months.