Prospective issuers of spot Ethereum exchange-traded funds (ETFs) have submitted their final S-1 documents to the U.S. Securities and Exchange Commission (SEC). Once these documents are approved, the funds can enter the market. Sources told CoinDesk that the SEC is likely to approve the applications next Tuesday.

Asset managers including BlackRock, Fidelity, 21Shares, Grayscale, Bitwise, and Invesco Galaxy have all submitted their amended S-1 filings. The SEC staff advised applicants to file final amendments by Wednesday, with potential approval by Monday and trading to begin on Tuesday.

The filings reveal the final details of the fund structures, including management fees. Grayscale’s main product charges a significantly higher fee of 2.5%, while its Mini Ethereum Trust is set at 0.25%, aligning with other competitors. In contrast, BlackRock and Fidelity will charge 0.25%, 21Shares 0.21%, Bitwise, VanEck, and Invesco Galaxy 0.2%, and Franklin Templeton 0.19%. ProShares had not disclosed its fee at press time.

Industry commentator Scott Johnson criticized Grayscale’s strategy, suggesting that the high fee might alienate investors. Grayscale’s Bitcoin Trust (GBTC) experienced significant outflows since converting to an ETF, and similar issues may arise with their Ethereum product.

The SEC also approved 19b-4 forms for Grayscale and ProShares to launch mini Ethereum exchange-traded products. Both companies are partnering with NYSE Arca to list their products. The SEC’s previous approval of 19b-4 forms from NYSE Arca, Cboe, and Nasdaq in May indicated strong support for spot ether ETFs.

The timing suggests Grayscale and ProShares may launch their products simultaneously with other applicants. If Grayscale launches its mini ether ETF on Tuesday, it will precede its mini bitcoin ETF, which has a proposed fee of 0.15%.

Source: Coindesk