(Reuters) – Investment management firm VanEck plans to charge a 0.20% fee on its proposed Ethereum-traded fund, according to a U.S. Securities and Exchange Commission filing on Friday.
Last month, the SEC approved Nasdaq, CBOE and NYSE’s applications to create a list of ether price-linked ETFs, potentially paving the way for the products to be launched later this year.
Nine issuers including VanEck, ARK Investments/21Shares and BlackRock (NYSE:) hope to launch ETFs tied to the second-largest cryptocurrency after the SEC approved bitcoin ETFs in January in a watershed moment for the industry.
Spot ETF ETF allows investors to gain exposure to the price of Ethereum without the complications and risks of owning Ethereum directly.
