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.
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 filing. This reduces the firm’s pricing strategy for its spot ETF, which currently stands as the most affordable option among its competitors.
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.”
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.
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
Also Read: Grayscale Files Amended Registration Statement for Spot ETF
