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LIVE UPDATES • Ethereum ETF Issuers Race to Launch Funds Amid Competitive Fee Strategies • Grayscale Ethereum Mini Trust Approved With 0.25%% Asset Management Fee • State Street Stablecoins and Deposit Tokens Are Now Being Promoted • Odds of a BONK Rally Amidst the 84B Token Burn Proposal Increase, Mpeppe (MPEPE) Poised for Explosive Growth • TON Teleport BTC Prepares To Launch To Support Seamless Bitcoin Transfers • Bitcoin Miner Cipher Sale Considered Amidst Surging Data Center Demand • German Government Bitcoin Sale Helps Recover Nearly $2.9 Billion • 21Shares Spot Ethereum ETF Management Fee Slashed to Just 0.21%! • Grayscale Decentralized AI Fund Unveils Investments In Top AI Blockchains • Upbit Trading Volume Plummets 44.8% Amid South Korea Regulations!

News Grayscale Ethereum Mini Trust Approved With 0.25%% Asset Management Fee 19 mins ago - Around 3 mins mins to read

Key Points:

The SEC approved two spot Ethereum ETFs, the Grayscale Ethereum Mini Trust, and the ProShares Ethereum ETF, for listing on the NYSE Arca platform.

Grayscale aims for full regulatory approval and plans to seed the Ethereum Mini Trust with over $1 billion in assets.

The SEC’s approval includes multiple issuers, with at least three expected to list spot Ether ETFs by July 23.

The United States Securities and Exchange Commission (SEC) has approved two spot Ethereum exchange-traded funds (ETFs) for listing on the New York Stock Exchange’s Arca electronic trading platform.

Read more: Grayscale Decentralized AI Fund Unveils Investments In Top AI Blockchains

Grayscale Ethereum Mini Trust Plans Major Launch with Over $1 Billion in Assets

The approved ETFs, as of July 17, are the Grayscale Ethereum Mini Trust and the ProShares Ethereum ETF.

Grayscale, a well-known crypto investment company, expressed optimism about the approval. The firm has been working closely with the SEC and plans to continue these efforts to achieve full regulatory approval for its US spot Ethereum ETPs.

The Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that Grayscale is preparing to list. In May, the SEC approved Grayscale’s proposal to convert its legacy Grayscale Ethereum Trust (ETHE) into an ETF.

The SEC’s unexpected approval in May also included proposals from other asset managers to launch spot Ethereum ETFs. Grayscale’s initial plan was to convert its longstanding Ethereum Trust into a spot ETF, a fund that currently operates like a closed-end fund, making it harder to redeem shares. The new Grayscale Ethereum Mini Trust will be seeded with 10% of ETHE’s assets, providing over $1 billion in liquidity based on ETHE’s current assets under management.

Multiple Issuers Set to List Ether ETFs by July 23

Grayscale announced that the Ethereum Mini Trust will have a 0.25% fee, with an initial fee of 0.12% for the first 12 months or until the fund reaches $2 billion in assets. Bloomberg ETF strategist Eric Balchunas noted that Grayscale’s fees are significantly higher than the competition, which might lead to some investor outflows. However, Balchunas speculated that the new ETF could offer lower fees, potentially around 15 basis points, to remain competitive.

The SEC’s approval extends to at least three issuers to begin listing spot Ether ETFs by July 23, with a total of eight spot Ether ETFs awaiting final regulatory clearance. It comes amid selling pressure on Ethereum prices, which struggled to surpass the $3,500 level. The upcoming approvals might trigger a “sell the news” event before strong inflows resume.

ETF ETH Ethereum ethereum etf Grayscale Grayscale Ethereum Mini ETF SEC

Author Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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Grayscale Ethereum Mini Trust Approved With 0.25%% Asset Management Fee