VanEck sets 0.20% fee for proposed spot ethereum ETF

Reuters
·1 min read
FILE PHOTO: Representation of cryptocurrency Ethereum is seen in this illustration

(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.

Nine issuers, including VanEck, ARK Investments/21Shares and BlackRock, 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.

(Reporting by Pritam Biswas in Bengaluru; Editing by Vijay Kishore and Shilpi Majumdar)