Grayscale has set the largest management fee for a spot ETH ETF
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
18.07.2024 - 15:20
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Last updated on Aug 6, 2024
What’s new? Investment companies planning to launch spot exchange-traded funds (ETFs) based on Ethereum, the largest altcoin, have filed final versions of Form S-1 share registration statements with the US Securities and Exchange Commission (SEC). Details such as the size of the management fee appeared in the documents.
What else is known? In May, the SEC approved Form 19b-4 applications filed by NYSE Arca, Cboe, and Nasdaq stock exchanges planning to list new products. Once the regulator approves the S-1 filings, trading of spot Ethereum funds can open.
Analysts assume that the funds will be admitted to the market as early as next Tuesday, July 23. BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Franklin Templeton, Invesco and Galaxy (a mutual fund), ARK Invest and 21Shares (also a mutual fund) are awaiting approval.
Grayscale set the highest management fee of 2,5%. Along with the main ETH ETF, it will launch a mini trust, where the fee will be 0,25%.
Grayscale also has the highest fee among spot BTC ETF issuers, which is 1,5%. However, back in April, the company announced the launch of a mini trust for BTC, where the fee will be the lowest in the segment: 0,15%. The product has not yet received SEC approval.
The fees of Grayscale’s competitors are significantly lower. Thus, BlackRock and Fidelity will charge 0,25% for ETH fund management, ARK Invest and 21Shares — 0,21%. Bitwise, VanEck, Invesco, and Galaxy have set the fee at 0,2%, while Franklin Templeton has the lowest at 0,19%.
At the same time, the VanEck fund will initially be launched with zero fee. It will rise to 0,2% only after the assets under management of the fund overcome the mark of $1,5 billion or after the occurrence of an unspecified date in 2025.
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