Key Points
- Major firms like VanEck and BlackRock have sent S-1 filings to the SEC for Ethereum ETFs.
- Ethereum’s price remains stable while its network growth records an uptick.
Eight applicants for spot Ethereum ETFs, including Bitwise, Fidelity, VanEck, and BlackRock, have updated their registration statements with the SEC. This marks a significant step in the approval process of these ETFs.
S-1 Filings and the ETF Space
Franklin and VanEck have disclosed their expense ratios. Franklin set its fee at 0.19% last month, while VanEck followed with a fee of 0.2% on Friday. BlackRock revealed a $10 million seed investment in its proposed ETF.
The SEC will review these updated filings and provide feedback to the issuers before making a final decision. This is good news for investors who have been waiting for the launch of other spot Ethereum ETFs. It could potentially make Ethereum more accessible for traditional investment portfolios.
Bloomberg analyst Eric Balchunas suggested 2 July as a potential launch date for these Ethereum ETFs. Although this isn’t an official confirmation, it gives investors a clearer timeframe. However, the SEC still needs to review the filings and may request changes before granting final approval.
Ethereum’s Current Status
At the time of writing, Ethereum was trading at $3,502.74, a slight decrease of 0.29% in the last 24 hours. Despite this, its network growth has seen a significant increase recently. This growth indicates that the number of new addresses interacting with Ethereum has materially grown.
As interest from new addresses increases, the likelihood of Ethereum rising to its previously-claimed highs also increases. Along with the increase in network growth, the velocity of Ethereum has also surged, indicating a significant increase in the frequency of Ethereum trading over the last few days.
