ETH ETFs Applications Submitted to the SEC, Launch Days Away

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.

Institutions applying to launch ether (ETH)-linked exchange-traded funds (ETFs) in the United States submitted their S-1 applications to the Securities and Exchange Commission (SEC) on June 21, bringing many to assume that the highly anticipated ETH ETFs are now days away from launching, possibly even in the first week of July before the U.S. Independence Day celebrations.

The development comes after the SEC finally approved the first round of applications, which were 19b-4 filings submitted by the financial institutions late last month. It then asked them to clarify any questions it had before submitting the S-1 applications, and that is what has transpired.

Now, the SEC will begin reviewing these applications, and once approved, the financial houses behind the applications will be able to start issuing their ETFs, which will finally launch on Wall Street exchanges. Several institutions, including VanEck, Grayscale, BlackRock, Invesco Galaxy Digital, Franklin Templeton, Fidelity, 21 Shares, and more, have sent in their S-1 filings thus far.

Those that have already sent their applications have included details about the management fees for their ETFs — for instance, VanEck states that it will be charging 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.

Moreover, a seeding of $10 million was disclosed by BlackRock in its filing. 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 that it can receive investments of up to $100 million from Panthera Capital when it launches its ETF.

News source：https://www.kdj.com/cryptocurrencies-news/articles/eth-etfs-applications-submitted-launch-days.html

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