- Spot Ethereum ETFs set to launch in the US on July 23.
- Grayscale’s Ethereum Mini Trust approved by SEC; fees spark industry debate.
- Ethereum price may surge past $4,000 post-ETF launch, analysts predict.
The eagerly awaited Spot Ethereum ETFs in the US will premiere on the market on July 23. Before this event, issuers have completed their S-1 registrations and disclosed details regarding fees, custodians, and other aspects of their offerings. Additionally, the Securities and Exchange Commission (SEC) has provided several updates.
Prominent issuers such as Grayscale, VanEck, and 21Shares, among others, have revealed their initial fee structures, the duration of fee waivers, and the custodians they will be using. Furthermore, on Wednesday, Grayscale obtained SEC approval for its Grayscale Ethereum Mini Trust (ETH).
Regarding initial fees, five issuers – VanEck, Bitwise, Franklin, 21Shares, and Fidelity – have declared they will not charge any initial fees. Grayscale has set the highest initial fees for its spot ETH ETF at 2.50%, while its Mini fund carries a fee of 0.12%, which is in line with iShares. ProShares stands out as the only ETF that has not provided any updates on its ETF product.
Furthermore, most of the nine issuing entities have designated Coinbase as their custodian. Two separate ETFs have identified Gemini and Fidelity as their respective custodians. ProShares stands out as the sole ETF that has yet to provide any updates regarding its ETF offering.
Earlier, issuers of spot Bitcoin ETFs engaged in a ‘fee war,’ slashing their ETF fees to attract investors. Moreover, Grayscale’s substantial fee has sparked conjecture within the industry. In a recent X publication, market analyst Scott Johnsson voiced his disapproval of the issuer’s elevated fee.
What Can Be Anticipated for the ETH Price Following the Spot ETF Introduction?
The price of Ethereum
Should a bullish trend ensue, experts predict that the Ethereum price could reach new peaks, potentially exceeding the $4,000 mark. It is worth noting that the cryptocurrency’s open interest has seen a 13% rise in the past day. As per CMC data, ETH is priced at $3,423 at the moment of this report.
Conversely, in a recent interview with Coinage, SEC Commissioner Hester Peirce hinted at a possible policy revision regarding the staking of ETFs. While the SEC originally did not permit staking for spot ETH ETFs during the May approval, this stance may be subject to change.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
