Competition in the cryptocurrency ETF sector is fierce, as evidenced by the recent developments leading up to the January 10 launch process. The SEC has recently granted 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.
The current status of the Ethereum ETF shows that there have been some file updates by 21Shares and Bitwise. One notable detail is the removal of Ark Invest’s name from the Ark&21Shares ETF. Additionally, there is no information available regarding transaction fees in the 21Shares filing. Bloomberg’s James initially reported this as “no fee,” but later clarified that the fees have not yet been included in the files.
In January, there was intense competition for fees during the BTC ETF launch, with some campaigns announcing that no management fees would be charged up to a certain volume. We can expect similar strategies to be employed here. However, the lack of fee details also indicates that the launch date for the ETH ETF is still uncertain. The SEC had requested the final files to be uploaded by Friday, and once reviewed, S-1 Form approvals will be given. However, the absence of fee details suggests that the issuers of the ETH ETF have not yet progressed from basic regulations to the finer details. This implies that the SEC is unlikely to grant S-1 Form approval next week and may provide final feedback on regulations and request the final files by the following Friday. As a result, the earliest possible launch date would be June 10, aligning with experts’ estimates of a 2-3 week file approval and update process.
Please note that the information in this article should not be considered investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
