Competition in the cryptocurrency ETF sector is fierce, a fact that has been evident throughout the lead-up to the launch process on January 10. Most recently, the SEC has given approvals for the ETH ETF, but the process is not yet complete. In order for investors to access these ETFs, they need to be listed on stock exchanges.
Regarding the current status of the Ethereum ETF, both 21Shares and Bitwise have made updates to their filings. One notable detail is the removal of Ark Invest’s name from the Ark&21Shares ETF. Additionally, the 21Shares filing does not provide any information on transaction fees. Although Bloomberg’s James initially reported this as “no fee,” he later clarified that the fees have not yet been included in the files.
In January, there was intense competition regarding fees during the launch of the BTC ETF, with some campaigns announcing that no management fees would be charged up to a certain volume. It is likely that we will see similar strategies here. However, the lack of fee details also gives us an indication of the potential ETH ETF launch date. The SEC had requested that the final files be uploaded to the system by Friday.
These files will undergo review, and once approved, S-1 Form approvals will be granted. However, the absence of fee details suggests that the ETH ETF issuers have not yet progressed from basic regulations to the finer details. Therefore, it is unlikely that the SEC will provide S-1 Form approval next week. Instead, they may provide final feedback on the regulations and request the final files by the following Friday. This implies that the earliest possible launch date will be June 10, aligning with experts’ estimates of a 2-3 week approval and update process for the files.
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Disclaimer: The information provided in this article should not be interpreted as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry a high level of risk. It is important for investors to conduct their own research.
