Asset managers have updated their proposals for Ether ETFs with an eye on the July launch

Several asset managers filed revised proposals for an Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission on June 21.

VanEyck, BlackRock, Grayscale and Invesco Galaxy Digital filed an amended S-1 registration statement after the market closed on Friday. Earlier, Fidelity filed a new S-1 form with the regulator.

VanEck's filing showed a 0.20% management fee on the Ethereum fund, compared with competitors such as Franklin Templeton with 0.19% management fees. BlackRock has yet to announce how much it will charge investors for iShares Ethereum Trust (ETHA) management.

According to Bloomberg analyst Eric Balchunas, Van Eyck's payout adds “significant pressure for BlackRock to stay under at least 30bps.”

Previous amendments have been submitted to the commission in recent weeks. The S-1 approval is one of the final steps before the fund is listed on Wall Street exchanges. Balchunas said the fund will be launched in the first week of July, before the US Independence Day holiday.

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In May, the SEC approved a rule change that would allow eight venues, including major asset managers VanEyck, BlackRock, Fidelity, Greyscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise, to list and trade ether ETFs.

Fidelity's updated filing disclosed that it was acquired by FMR Capital for $4.7 million at $38 a share. Bitwise updated its ETF proposal with the SEC on June 19, including a potential $100 million investment from Pantera Capital in the ETF's commercial startup.

Additionally, Hashdex Point is pursuing regulatory approval for a new ETF combining Bitcoin (BTC) and Ether. A few weeks ago, Hashdex abandoned its plans to launch an ETF dedicated to Ether.

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