Franklin Templeton, VanEck and Invesco Galaxy file amended S-1 for spot Ethereum ETF, with Franklin specifying 0.19% fee.
Franklin Templeton, VanEck and Invesco Galaxy filed amended Form S-1 for the position with the Securities and Exchange Commission on Friday. Ethereum 
ETH
+0.84%
Apply for ETF.
After the issuer has successfully launched Spot with another issuer, bitcoin 
BTC
-1.28%
The ETF is now trying to complete the necessary regulatory steps to launch a similar product that would allow investors to bet on the price of Ethereum without having to purchase the cryptocurrency directly.
According to the filing, Franklin Templeton plans to charge a sponsor fee of 0.19%. This is the same rate it would charge for the cheapest spot Bitcoin ETF (EZBC) among its peers in August. Initially, the company will not charge fees for investing in spot Bitcoin ETFs.
Bloomberg senior ETF analyst Eric Balchunas was quick to comment on the proposed fees. “The Eth ETF fee war started with Franklin’s 19bps,” he said in a post to X.
The SEC has instructed issuers of potential spot Ethereum ETFs to file revised Forms S-1 by Friday, The Block previously reported. However, it may take several weeks for the S-1 form to go into effect and for the new financial product to begin trading.
When the spot Ethereum ETF application received initial approval last week, VanEck quickly filed a revised version of Form S-1. On Thursday, BlackRock filed an updated form, disclosing that $10 million would be allocated to the ETF.
Franklin Templeton’s Spot Bitcoin ETF has approximately $350 million in assets under management, according to The Block Data Dashboard.
VanEck disclosed in his recently amended S-1 filing that he received $100,000 in seed investment.
Invesco Galaxy added in its recently amended S-1 filing that Bank of New York Mellon will serve as its cash custodian and Coinbase Custody Trust Company LLC will serve as its Ethereum custodian.
Sarah Wynn contributed reporting.
Updated at 8:40 PM UTC time to include details on the latest filings from Invesco and VanEck.
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