Grayscale, the giant asset management company, has made a significant change in the cryptocurrency industry by introducing the lowest fee for its Ethereum mini spot ETF. The fee has been reduced to 15 basis points, making it the lowest-cost ETF on the market. In comparison, BlackRock’s ETF, the iShares Ethereum Trust, will have a fee of 25 basis points. The update to the Ethereum ETF fee has been filed with the SEC on July 18.
Financial lawyer Scott Johnsson commented on Grayscale’s move, stating that he had expected the fee reduction and praised the company for being smart. The SEC has granted approval for the Grayscale Mini Ethereum Spot ETF, bringing the total number of approved Ethereum Spot ETFs to ten. However, final approval to begin trading these ETFs is still pending, with experts predicting that it could be issued by July 23.
The price of Ethereum was quoted at $3,455.27, showing a slight decrease of 0.5% in the last 24 hours. However, over the past week, Ethereum has experienced a significant recovery, with its price rising more than 12%.
Disclaimer: The opinions expressed in this article are for informational purposes only and should not be considered as financial advice. Investing in cryptocurrencies carries a risk of financial loss.