BlackRock, Franklin, Bitwise, Invesco, Grayscale, and Fidelity have filed amended S-1 forms for their Spot Ethereum ETFs, paving the way for a possible listing next week.
This is a major development in the firms’ quest to receive approval from the U.S Securities and Exchange Commission (SEC) given that the firms are setting their management fees an indication that they are in their final stages of preparing for trading.
BlackRock, Franklin, Bitwise, Invesco, Grayscale, Fidelity Fees
BlackRock, an asset management firm, has quoted 0.25% fee for its spot Ethereum product. In the amended S-1 registration statement, the firm pointed out that it is entitled to “waive all or a portion of the fee for any period(s).” The fee is charged on a daily basis with an annualization and is due and payable on a quarterly basis.
Another major player, Bitwise, also declared a 0.20% fee with an initial discount for the first $500 million in assets. Nevertheless, Grayscale charges a higher fee of 2.5% for its Ethereum Trust as compared to the other issuers. Grayscale’s mini Ethereum ETF, which is also expected to be launched at the same time as the others, will have a 0.25% fee.
Invesco Galaxy charges a fee of 0.25%, which is equal to BlackRock, while VanEck charges 0.20%. Out of all the firms, Franklin Templeton has the lowest fee set at 0.19%. Fidelity also introduced 0.25% fee but the company declared it is going to exempt from this fee up to the end of 2024.
Earlier today, the ETF issuer 21Shares had revealed a 0.21% fee for its Ethereum ETF, which will be exempt for the first six months or until the asset of the trust will be $500 million.
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The post BlackRock, Franklin, Bitwise, Invesco, Grayscale, Fidelity File Updated Spot Ethereum ETF S-1 appeared first on CoinGape.
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