As a seasoned financial analyst with a deep understanding of the crypto market, I have been eagerly anticipating the launch of spot Ethereum ETFs for quite some time now. The recent confirmation from the Chicago Board Options Exchange (CBOE) that five Ethereum ETFs will go live by July 23 is an exciting development in this space.
Five Ethereum exchange-traded funds (ETFs) listed on the Chicago Board Options Exchange (CBOE) are set to begin trading on July 23.
Ethereum ETF issuers prepared for launch
The stock exchange made some announcements on July 23, revealing new listings to come on its platform. Notably, anticipated Ethereum ETFs from Fidelity, Invesco Galaxy, Franklin Templeton, VanEck, and 21Shares were included in this lineup. This announcement serves as an encouraging sign for investors eagerly waiting for these potential Ethereum ETFs to become available on the platform for trading.
Additionally, such notices are essential procedures that precedes a product launch.
Significant news emerged on May 23rd when the SEC granted approval for Ethereum ETFs in the United States. However, the applicants needed to secure a final nod before they could initiate trading. Throughout this process, they had to file registration statements like S-1 and Form 8-A, as well as amendments to their S-1 filings. Notably, the management fees for their respective Ethereum ETFs were disclosed in many of their recent submissions.
Franklin Templeton sets fees at 0.19%, Bitwise charges 0.20%, and BlackRock asks for 0.25%; these rates may be reduced or even waived by these firms for a specified duration. VanEck has opted to forgo ETF fees, but the waiver lasts until 2025 or when assets reach $1.5 billion, whichever comes first.
Market advantage for issuer with fee waiver
In simpler terms, ETF filers aiming to forgo fees could potentially outperform their competitors due to lower costs, which is an appealing factor for investors. Grayscale, however, faces a larger disadvantage with its management fee set at 2.5%.
The CBOE’s latest update indicates that the long-anticipated approval of spot Ethereum ETFs may be imminent, potentially paving the way for other crypto ETFs. Discussions are underway regarding Solana ETFs, and it’s possible the SEC could agree to these as well.
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2024-07-20 15:24