8 asset management companies file revised S-1s with SEC
Average ETF management fee is set at less than 0.2%
Experts predict “ETF approval likely to be approved in the first week of July”
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Asset management companies that applied for approval of the Ethereum spot ETF completed the submission of revised ETF securities report 'S-1s' in accordance with the requirements of the U.S. Securities and Exchange Commission (SEC) on the 21st.
Asset management companies ArcInvest, Bitwise, VanEck, BlackRock, Grayscale, Invesco, Fidelity, and Franklin Templeton submitted Ethereum spot ETF S-1s documents to the SEC. All of them obtained approval of the Bitcoin spot ETF from the SEC in January of this year and then obtained approval of the review request '19b-4' for the Ethereum spot ETF in May.
Compiling the documents submitted by each management company, the average management fee rate for the Ethereum spot ETF is less than 0.2%. Except for BlackRock, the remaining management companies set a ‘low fee’ of about 0.19 to 0.2% on ETF applications. This is because the ‘zero fee’ level fee competition has already begun through the Bitcoin spot ETF.
Bloomberg ETF researcher Eric Balchunas mentioned the document submission status of Ethereum spot ETF applicants and emphasized, “The Ethereum spot ETF will be launched in the first week of July, right before the U.S. Independence Day holiday.”
A domestic digital asset (cryptocurrency) official said, "SEC Chairman Gary Gensler has personally stated that he is considering approval of an Ethereum spot ETF, so approval of an Ethereum spot ETF is now just a matter of timing." “It appears that they are drawing a picture of Bitcoin and Ethereum in the second half of the year,” he explained.
Reporter Seungwon Kwon ksw@
