Bitcoin price hovers at $64,500 while we reach another milestone for the ETH ETF. Today, issuers were asked to finalize S-1 Form updates for ETF applications by the end of the day. This meant that transaction fees would be determined. It’s now clear.
Spot ETH ETF Latest Update
Companies are finalizing S-1 Form updates for Spot ETH ETF applications. This also clarified details including transaction fees. The SEC had asked issuers to submit the final forms today for a launch on Tuesday, July 23. Reports from internal sources have now been confirmed with recent developments.
The main concern was the fee Grayscale would set for the ETHE Trust converting to an ETF. Like with GBTC, the company set a significant fee of 2.5%, indicating they expect initial net outflows similar to GBTC. If this happens, we might see a short-term drop in altcoins followed by a rise with net inflows into ETH ETFs.
Details from other form updates are as follows:
- Franklin transaction fee 0.19%
- Invesco and Galaxy 0.25%
- Bitwise 0.2%
- BlackRock 0.25%
