Ethereum

Franklin

Galaxy

Franklin Templeton, VanEck, and Invesco Galaxy have filed updated S-1 forms with the Securities and Exchange Commission (SEC) for their spot Ethereum (ETH) ETF applications.&nbsp; 
In a bid to attract investors, Franklin Templeton has set the stage for a potential fee war among other Ethereum ETF providers, announcing a competitive 0.19% sponsor fee in its <a href="https://www.sec.gov/Archives/edgar/data/2011535/000113743924001040/fets1a05312024.htm" target="_blank" rel="noreferrer noopener nofollow">filing</a>. This reduces the firm’s pricing strategy for its spot ETF, which currently stands as the most affordable option among its competitors.&nbsp; 
Eric Balchunas, Bloomberg’s Senior ETF Analyst, in a tweet, noted the significance of Franklin Templeton’s move, stating, “The opening shot in the Eth ETF fee war has been fired from Franklin, 19bps.” 
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 The opening shot in the Eth ETF fee war has been fired from Franklin. 19bps. 💥 <a href="https://t.co/n3yQsaMoYO" target="_blank">https://t.co/n3yQsaMoYO</a>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1796606348324634798?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 31, 2024</a>
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Although the SEC set today as the deadline for prospective spot Ethereum ETF issuers to file their amended S-1 forms. However, it may take several weeks for these forms to become effective and for the new financial products to commence trading.&nbsp; 
VanEck and BlackRock have also filed their updated forms, with the latter disclosing a $10 million seed for its ETF. VanEck, on the other hand, reported a $100,000 in seed investment. 
Invesco Galaxy’s amended S-1 filing disclosed that the Bank of New York Mellon will serve as cash custodian, while Coinbase Custody Trust Company LLC will handle ether custodian duties 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/31/grayscale-amends-ether-fund-registration/" target="_blank" rel="noreferrer noopener">Grayscale Files Amended Registration Statement for Spot ETF</a> 
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Franklin, VanEck, Invesco Galaxy File for Spot Ethereum ETFs; Franklin Sets 0.19% Fee

The Crypto Times

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