The post Ethereum Boom Imminent as All ETH ETFs Applicants File Amended S-1 Filings ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp Ethereum is poised for a solid uptrend after applicants for spot Ether exchange-traded funds (ETFs) submitted amended S-1 filings. Last week, the US Securities and Exchange Commission (SEC) sent comments to all applicants seeking responses within a week. The recent development brings the launch of the first spot ETH ETF in the US closer. Ethereum has gained slightly by 0.1% in the last 24 hours. The second-largest cryptocurrency by market cap traded at $3,498 at 11:29 a.m. EST. Ether ETF Applicants Submit Amended S-1 Filings Some asset managers that have submitted their revised S-1 filings include BlackRock, Fidelity, Invesco Galaxy, Grayscale, and VanEck.  In its revised filing, Fidelity revealed a $4.7M seed funding by one of its affiliate firms, FMR Capital. BlackRock’s updated filing also revealed a $10M seed investment. BitWise also listed a potential investment of $100 million from Pantera Capital on the day the ETF starts trading.  Advertisement &nbsp The asset managers appear to be engaging in a fee war, as seen during the race to spot Bitcoin ETFs. The VanEck filing shows a 0.20% management fee for its Ether ETF. Franklin Templeton has proposed a 0.19% fee, while BlackRock has yet to announce the fee it plans to charge to manage the fund. The S1 approvals are the final step towards launching an Ether ETF. The SEC approved 19b-4 forms filed by exchanges on May 23. The final approval is now pending, which, according to analysts, might happen on July 2. “We will see a bunch of amended S-1s filed today, prob later this afternoon. The ball’s in the SEC’s court to let issuers know about any final changes and effectiveness (aka final approval). We are holding the line with July 2nd as our over/under for ETH ETFs launch date,” Bloomberg ETF analyst Eric…

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Filed under: News - @ June 22, 2024 7:14 pm