The post Franklin Templeton Reveals Ethereum ETF Fee appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports Franklin Templeton has become the first asset manager to reveal the management fee on their proposed Ether spot ETF—and it’s virtually non-existent. Per an updated S-1 filing with the Securities and Exchange Commission (SEC) on Friday, the Franklin Ethereum ETF will only charge customers 0.19% per year for holding Ether in their fund, a much lower rate than those assessed by global competitors that have already gone live. “The sponsor’s fee is accrued daily at an annualized rate equal to 0.19% of the net asset value of the fund and is payable at least quarterly in arrears in U.S. dollars or in-kind or any combination thereof,” wrote Franklin. That’s not all: the fund has also promised to waive all sponsor fees on its first $10 billion for the first six months after the fund goes live. The ultra-low fee mimics that of Bitcoin spot ETFs that launched in January, where competing funds crunched each others’ numbers in a vicious fee war days before their products went live. Most now offer fees below 0.3%, with many—like Fidelity and VanEck—offering temporary fee waivers. Franklin also launched a Bitcoin ETF at the time, but mostly lost the battle to competitors on both volume and assets. This time, the asset manager has wasted no time getting its fee rate out the door, driving its costs close to zero. “For context, most ether spot ETFs in other countries or in other vehicles are >1%,” wrote Bloomberg ETF analyst Eric Balchunas to Twitter on Friday. “The US ETF market is just special in its hardcore-ness but that’s why the vast majority of…

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Filed under: News - @ June 1, 2024 11:26 pm