(Reuters) – Investment management firm VanEck plans to charge a 0.20% fee on its proposed spot ethereum exchange-traded fund, according to a filing with the U.S. Securities and Exchange Commission on Friday.
The SEC last month approved applications from Nasdaq, CBOE and NYSE to list ETFs linked to the price of ether, which could pave the way for the products to begin trading later this year.
Nine issuers, including VanEck, ARK Investments/21Shares and BlackRock (NYSE:), hope to launch ETFs linked to the second-largest cryptocurrency after the SEC approved bitcoin ETFs in January in a watershed moment for the industry.
An Ethereum spot ETF allows investors to gain exposure to the price of Ethereum without the complications and risks of owning Ethereum directly.
