Competition in the cryptocurrency ETF sector is fierce, as evidenced by the recent developments leading up to the January 10 launch. The SEC has recently given approvals for the ETH ETF, but the process is not yet complete. To access these ETFs, investors need them to be listed on stock exchanges.
The current status of the Ethereum ETF shows that 21Shares and Bitwise have made file updates. 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 campaigns announcing no management fees up to a certain volume. We can expect to see similar strategies here. However, the lack of fee details also indicates that the launch date for the ETH ETF is uncertain. The SEC had requested the final files to be uploaded by Friday, which will be reviewed for S-1 Form approvals. But without fee details, it seems that the ETH ETF issuers have not yet progressed beyond basic regulations. This suggests that the SEC is unlikely to provide S-1 Form approval next week and may provide final feedback on regulations, requesting the final files by the following Friday. This indicates that 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 presented in this article should not be considered as investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.