BlackRock, Franklin, Bitwise, Invesco, Grayscale, Fidelity File Updated Spot Ethereum ETF S-1

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BlackRock, Franklin, Bitwise, Invesco, Grayscale, and Fidelity have filed amended S-1 forms for their Spot Ethereum ETFs, setting the stage for a potential launch next week. This marks a significant step towards getting approval from the U.S. Securities and Exchange Commission (SEC) as the firms set their management fees, signaling the final preparations for trading.

BlackRock, Franklin, Bitwise, Invesco, Grayscale, Fidelity Fees

BlackRock, an asset management firm, has set its fee at 0.25% for its spot Ethereum product. The firm noted in its amended S-1 registration statement that it could “waive all or a portion” of the fee for certain periods. The fee is accrued daily at an annualized rate and is payable quarterly in arrears.

ETF issuer 21Shares has set a 0.21% fee for its Ethereum ETF, which will be waived for the first six months or until the trust’s assets reach $500 million. Bitwise, another key player, announced a 0.20% fee, also with an initial waiver for the first $500 million in assets. Meanwhile, Grayscale has set a higher fee of 2.5% for its Ethereum Trust, significantly above the other issuers. However, Grayscale’s mini Ethereum ETF, expected to launch simultaneously with the others, will charge a 0.25% fee.

Invesco Galaxy’s fee is set at 0.25%, matching BlackRock, while VanEck’s is slightly lower at 0.20%. Franklin Templeton has the lowest fee among the firms at 0.19%. Fidelity also announced a 0.25% fee but stated that it would waive this fee through the end of 2024.

Spot Ethereum ETF Expected Launch

Multiple sources indicate that the Spot Ethereum ETFs are likely to begin trading on July 23. This follows the SEC’s approval of critical 19b-4 forms for eight spot Ethereum ETFs on May 23. Issuers must have their registration statements effective before launching.

Senior Bloomberg ETF analyst Eric Balchunas reported that the SEC requested final S-1 forms from issuers and expected to request effectiveness on Monday, July 22, setting up a launch on Tuesday, July 23. This timeline suggests the firms are nearing the final stages of SEC approval.

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