BlackRock sets spot Ether ETF fee at 0.25% amid rush of S-1 filings

July 18, 2024 Coin Telegraph

21shares

BlackRock’s iShares Ethereum Trust will start at a 0.12% fee until 12 months passes or after it amasses $2.5 billion in net assets, whichever comes first.

Asset management firm BlackRock has set the fee for its spot Ethereum exchange-traded fund at 0.25% ahead of a potential launch next week.

BlackRock’s S-1 registration statement, filed on July 17, explains its fee will be accrued daily at an annualized rate equal to 0.25% of the fund’s net asset value and is payable at least every three months in US dollars, in-kind or a combination of both.

It could “waive all or a portion” of the fee for certain periods, it said, adding that it plans to do this upon launch.

SEC has given ‘preliminary approval’ to at least 3 ETH ETF issuers: Report

July 16, 2024 Coin Telegraph

ARK 21Shares

BlackRock, Franklin Templeton, and VanEck have reportedly received preliminary approval from the US securities regulator, sources say.

The United States Securities and Exchange Commission has reportedly given “preliminary approval” to at least three asset managers for their spot Ether exchange-traded funds — adding fuel to speculation that the ETFs will begin trading as early as next Tuesday.

SEC approval is now only contingent on applicants submitting final offering documents to the regulator before the end of this week, “three industry sources” told Reuters in a July 15 report.

Those applicants included BlackRock, Franklin Templeton and VanEck, the sources said.

Spot Bitcoin ETFs see highest flow day in over 5 weeks

July 13, 2024 Coin Telegraph

Bitwise

The $310 million in inflows were led by the BlackRock and Fidelity Bitcoin ETFs, while Grayscale recorded a rare inflow day at $23 million.

United States-based spot Bitcoin exchange-traded funds recorded over $310 million in inflows on July 12 — marking its best-performing day since June 5.

BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) saw most of the flows at $120 million and $115.1 million, respectively, Farside Investors data shows.

The Bitwise Bitcoin ETF came in third at $28.4 million, while the Grayscale Bitcoin Trust (GBTC) recorded another rare inflow day at $23 million.

Spot Ether ETFs are now officially legal in the US: Law Decoded

May 27, 2024 Coin Telegraph

ARK 21Shares

Spot Ether ETFs might be weeks or months away from debuting on exchanges, as the ETF filers have yet to receive their S-1 SEC registration.

In a second landmark decision this year, the United States Securities and Exchange Commission has given the regulatory green light to spot Ether exchange-traded funds (ETFs) in the country.

The SEC approved the 19b-4 filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise, approving the rule changes allowing spot Ether (ETH) ETFs to be listed and traded on their respective exchanges.

Unlike the spot Bitcoin (BTC) ETFs approved via voting by a five-member committee including SEC Chair Gary Gensler, spot Ether ETFs were approved by the SEC’s Trading and Markets Division.

Ethereum ETFs launch next month ‘certainly possible’ — Analyst

May 24, 2024 Coin Telegraph

19b-4

The launch date will largely depend on how quickly approved applicants amend their S-1 registration statements and how many rounds of feedback they receive from the SEC.

The newly-approved spot Ether (ETH) exchange-traded funds could launch as early as mid-June — if the United States securities regulator follows a similar timeline to its spot Bitcoin ETF process.

Spot Ether ETFs got the green light for their 19b-4 filings today, allowing the funds to be listed on their respective exchanges. However, applicants will first need approved S-1 registration statements to begin trading.

Bloomberg ETF analyst James Seyffart has been saying S-1 approvals could come in a “couple of weeks,” but also noted that they “could take longer” as the process typically takes up to five months.

SEC’s ETF decision means ETH and ’a lot’ of other tokens are not securities

May 24, 2024 Coin Telegraph

19b-4

That doesn't mean the securities regulator can't still pursue action against actors in the staking domain, industry analysts and lawyers warn.

The approval of spot Ether (ETH) exchange-traded funds is “implicit recognition” from the United States Securities and Exchange Commission that Ether is not a security, according to industry pundits.

One even suggests this could extend to other tokens as well.

"These are commodities-based trust shares, so the SEC, by approving these, is explicitly saying they’re not going to go after Ether as a security,” noted Bloomberg ETF analyst James Seyffart in a discussion with Ryan Sean Adams on the Bankless podcast.

Invesco Galaxy

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