NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

VanEck sets 0.20% fee for proposed spot ethereum ETF

Published 06/21/2024, 05:20 PM
Updated 06/21/2024, 05:26 PM
© Reuters. FILE PHOTO: A representation of cryptocurrency Ethereum is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
ETH/USD
-

(Reuters) - Investment management firm VanEck plans to charge a fee of 0.20% on its proposed spot ethereum exchange-traded fund, according to a U.S. Securities and Exchange Commission filing on Friday.

The SEC approved applications from Nasdaq, CBOE and NYSE last month to list ETFs tied to the price of ether, potentially paving the way for the products to begin trading later this year.

© Reuters. FILE PHOTO: A representation of cryptocurrency Ethereum is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Nine issuers, including VanEck, ARK Investments/21Shares and BlackRock (NYSE:BLK), hope to launch ETFs tied to the second-largest cryptocurrency after the SEC in January approved bitcoin ETFs in a watershed moment for the industry.

A spot ethereum ETF allows investors to gain exposure to the price of ethereum without the complications and risks of owning ethereum directly.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.