SEC Requests Final Ethereum ETF Submissions
16 Jul, 2024 ● Kripto novosti
The SEC has instructed issuers to submit their final S-1 filings by July 16, aiming to launch new Ethereum funds on July 23, according to Bloomberg analyst Eric Balchunas.
The United States Securities and Exchange Commission (SEC) has reportedly given final instructions to asset managers preparing to launch Ether exchange-traded funds (ETFs).
Eric Balchunas of Bloomberg stated that the Commission directed issuers to finalize their S-1 filings by July 16, with a target launch date for the new funds on July 23.
These final filings must include the fees issuers intend to charge for their new crypto funds.
On May 23, the SEC approved issuers' 19-b form proposing rule changes to allow crypto-based investment vehicles.
Asset managers now require approval for their initial securities registration S-1 forms.
In recent weeks, issuers like ARK Investments and Fidelity have removed staking from their Ether ETF plans in response to regulatory concerns.
The fees for Ether ETFs will vary, with Invesco and Galaxy setting management fees at 0.25%, slightly higher than VanEck and Franklin Templeton, which have disclosed fees of 0.20% and 0.19%, respectively.
These fees are significantly lower than the 2.50% management fees charged by Grayscale’s Ethereum Trust. Although Grayscale plans to launch a new spot Ether ETF, it has not yet disclosed the new fees.
The SEC’s approval process for Ether ETFs is expected to follow a similar pattern to that of Bitcoin ETFs.
Analysts predict that Ether ETFs could attract significant interest from investors, potentially drawing up to $10 billion in new inflows in the months following the launch.
Sources:
https://cointelegraph.com/news/sec-requests-final-s-1-submissions-ether-etf-launch
