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Franklin Templeton Updates Spot Ethereum ETF With 0.19% Fee – Crypto News

Published

1 year ago

June 1, 2024

Dripp

The spot Ethereum ETF sponsor fee war is about to start as investment asset management firm Franklin Templeton just disclosed its 19 basis points (bps) sponsor fee charges.

A 0.19% Sponsor Fee Sets Precedent For Spot Ethereum ETFs

After receiving approval from the United States Securities and Exchange Commission (SEC) on the Ethereum ETF proposed rule change, applicants were expected to also gain approval for S-1 registrations in order to commence trading. Franklin Templeton finally filed an updated version of its S-1 application recently. In the filing, the ETH ETF issuer disclosed that it would only charge 0.19% as a sponsor fee.

Noteworthy, this fee sets a precedent for other spot Ethereum ETF issuer as they also submit their S-1 application. Franklin Templeton’s spot Bitcoin ETFs has a fee of 0.19% as well but this was after a 10 bps reduction. At the time, it made the firm the Bitcoin ETF issuer with the lowest fee amongst its competitors.

Similarly, Franklin Templeton introduced a fee waiver for the first six month after introducing its spot Bitcoin ETF in the market. It’s not yet clear if the same treatment would be given by issuers to the newly approved Ethereum ETFs.

This is a breaking news, please check back for updates!