Ethereum Spot ETF Fees Revealed, Expected to Officially Launch on 7/23

Yesterday, the issuers successively announced the fees for Ethereum spot ETFs, with 7 out of the 10 funds enjoying fee waivers. The SEC also approved the 19b-4 forms for Grayscale Mini and ProShares Ethereum ETFs. Bloomberg ETF analyst James Seyffart believes this signals that all ten Ethereum spot ETFs will be launched simultaneously on 7/23.

SEC Approves Grayscale Mini and ProShares Ethereum ETFs

The U.S. Securities and Exchange Commission SEC has approved the listing of two Ethereum spot ETFs, Grayscale Ethereum Mini Trust and ProShares Ethereum ETF, on the NYSE Arca electronic trading platform.

The 19b-4 forms for eight other Ethereum spot ETFs were already officially approved at the end of May, indicating that all ten Ethereum spot ETFs are expected to launch simultaneously on 7/23, according to Bloomberg ETF analyst James Seyffart.

Grayscale EHTE and Mini ETH

The mini Ethereum ETF applied by Grayscale with the code: ETH, automatically separates 10% of the assets from the original Grayscale Ethereum ETF with the code: ETHE and converts them into ETH. ETHE currently holds $10 billion in assets. Therefore, ETH should essentially start its life with $1 billion in assets. While Grayscale, known for its high fees, still maintains the original 2.5% fee for ETHE, the mini version ETH has been adjusted to a fee rate of 0.12% for the first 12 months or the first $20 billion. This adjustment may help alleviate outflows from Grayscale funds.

Fee War Begins, BlackRock also Offers Discounts

According to Bloomberg ETF analyst James Seyffart, a fee war has broken out among Ethereum spot ETFs, with 7 out of 10 funds enjoying fee reductions. After the promotional period, the prices have also been lowered, with the highest fee at 0.25%, except for Grayscale's EHTE, which is lower than the previous Bitcoin spot ETF.

A total of 11 Bitcoin spot ETFs will have management fees, with an expected initial capital raise of $4 billion on the first day.