The US SEC approved the Grayscale Ethereum Mini Trust and ProShares Ethereum ETF on Wednesday, clearing the way for trading to commence next week. The decision comes after months of delay, with the SEC granting permission for shares to be listed and traded on NYSE Arca Inc., pending final notice and comment on the S-1 filings.
Spot Ethereum ETFs are set to initiate sponsor fee competition, with expectations that around a dozen issuers will enter the market next week. The Grayscale Ethereum Mini Trust (ETH) will begin with a sponsor fee of 0.12% and a post-waiver fee around 0.25%. In contrast, the Grayscale Ethereum Trust (ETHE) will maintain its existing fee structure of 2.50%, leading analysts like James Seyffart from Bloomberg’s ETF research to anticipate similar outflows as observed with GBTC due to fee discrepancies.
Grayscale expressed enthusiasm following the SEC’s approval of the Grayscale Ethereum Mini Trust’s Form 19b-4, highlighting ongoing constructive engagement with SEC staff for full regulatory approval of US spot Ethereum ETPs.
Most other spot Ether ETF issuers are expected to offer zero starting fees and post-waiver sponsor fees ranging from 0.19% to 0.25%, although details on ProShares Ethereum ETF’s sponsor fee are yet to be disclosed.
