SEC Approves Grayscale Mini Ethereum Spot ETF and Bitwise Announces Competitive Fees

 

According to recent sources, the United States Securities and Exchange Commission (SEC) has granted approval to the Grayscale Mini Ethereum Spot ETF, marking a new development in the cryptocurrency ETF market. This event brings the total number of approved Ethereum Spot ETFs to ten, including the newly added ones from Proshares and Grayscale.

While Grayscale is celebrating this new milestone, final approval to begin trading these ETFs is still pending. Bloomberg analysts, who specialize in ETFs, project that the necessary authorization to begin trading could be issued by July 23.

Meanwhile, Bitwise, another giant in the crypto ETF space, made strategic moves by updating its S-1 form, in which it set a new management fee of just 0.20%. This update comes moments after the SEC announced the approval of Ethereum Spot ETFs from other companies, including Bitwise itself.

The market is still awaiting definitions on compensation policies from other significant companies in the sector, such as BlackRock. The SEC has expressed its desire to standardize approvals, indicating that future approvals are close, if these policies are revealed soon. In this context, both BlackRock and Grayscale have also updated their S-1 filings, with announced rates of 0.25% and 2.5%, respectively.

This 2.5% fee from Grayscale is considered high by experts, who warn of the possibility of exits from Grayscale’s Ethereum Spot ETF, similar to what happened with the Bitcoin ETF.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.