Invesco Galaxy has announced a fee of 0.25% for its spot Ethereum exchange-traded fund (ETF) in its latest filings, positioning itself among firms vying to launch spot Ethereum ETFs. The fee was disclosed in an amended S-1 registration statement filed with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
Compared to other firms, Invesco Galaxy’s fee slightly exceeds those set by competitors. VanEck revealed a fee of 0.20%, while Franklin Templeton set its fee at 0.19% last month.
In its recent filing, Invesco Galaxy stated that the Trust will compensate the Sponsor with a flat annual fee of 0.25% (referred to as the ‘Sponsor Fee’) for services rendered under the Trust Agreement defined herein. This fee represents the Trust’s sole regular operating cost.
On Monday, several other firms, including VanEck, 21Shares, BlackRock, Fidelity, Franklin Templeton, and Grayscale, also filed their amended registration statements. The SEC had previously approved 19b-4 forms for eight spot Ethereum ETFs on May 23. However, issuers are awaiting the effectiveness of their S-1 statements before trading can commence, in accordance with regulatory procedures.
Notably, BlackRock, Fidelity, 21Shares, and Grayscale have yet to disclose their respective fees. Bitwise, which filed its amended S-1 form last week, indicated it will waive the sponsor fee for the first $500 million in assets, but the specific fee remains undisclosed.
Eric Balchunas, senior Bloomberg ETF analyst, addressed inquiries regarding the absence of fee listings, explaining, “Because the SEC asked for the S-1s on July 8th but told issuers the fee wasn’t necessary yet. They will give guidance back to issuers soon along with the game plan. Then the docs will come back with fees (and every other blank) filled in and then it’s Go time.”
