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Ethereum ETFs Gear Up for July Launch

Ether ETFs near July launch; VanEck sets 0.20% fee, Fidelity seeds $4.7M, SEC nods to 8 managers. Keep reading to know the details.

Photo by Vitaly Mazur / Unsplash

Revised Proposals Spark Interest 

In a significant development for cryptocurrency investment, several asset managers have revised their Ethereum ETF proposals. Submitted to the SEC on June 21, these updates signal readiness for a July launch. VanEck, BlackRock, Grayscale, Invesco Galaxy Digital, and Fidelity are among those fine-tuning their offerings.

Competitive Fee Structures 

VanEck’s filing revealed a 0.20% management fee for its Ethereum fund, setting a competitive benchmark in the industry. This move puts pressure on other asset managers like BlackRock to maintain low fees. Fidelity’s updated filing showed a $4.7 million seeding at $38 per share by FMR Capital, indicating strong backing.

Anticipated Regulatory Approvals 

The SEC’s May approval of a rule change was a green light for eight major asset managers to list and trade spot Ether ETFs. This regulatory milestone is expected to pave the way for Ether ETFs’ debut on Wall Street exchanges. Additionally, Hashdex is seeking approval for a new ETF combining spot Bitcoin and Ether, diversifying the crypto ETF landscape.

With the SEC’s nod and asset managers’ aggressive strategies, the upcoming Ether ETFs are set to open new avenues for investors looking to tap into the potential of digital currencies.