Invesco Galaxy sets spot Ethereum ETF fee at 0.25% in latest round of filings

Quick Take

  • The fund disclosed its fee in an amended S-1 registration statement filed to the U.S. Securities and Exchange Commission on Tuesday. 
  • Invesco Galaxy’s fee is a bit higher than other firms that have disclosed.

Issuers for the Invesco Galaxy Ethereum exchange-traded fund set its fee at 0.25% in the latest round of filings as firms seek to launch spot Ethereum ETFs.

The fund disclosed its fee in an amended S-1 registration statement filed to the U.S. Securities and Exchange Commission on Tuesday. Invesco Galaxy's fee is a bit higher than other firms that have disclosed. VanEck set its fee at 0.20% after Franklin Templeton set its at 0.19% last month.

"The Trust will pay the Sponsor a unified fee of 0.25% per annum (the 'Sponsor Fee') as compensation for services performed under the Trust Agreement (as defined herein). The Trust’s only ordinary recurring expense is the Sponsor Fee," Invesco Galaxy said in its latest filing.

Several other firms filed their amended registration statements on Monday including VanEck, 21Shares , BlackRock, Fidelity, Franklin Templeton and Grayscale. The SEC approved 19b-4 forms for eight spot Ethereum ETFs on May 23. However, issuers still need their S-1 statements to become effective before trading can begin, as part of a two-step process.

BlackRock, Fidelity, 21Shares and Grayscale have not disclosed fees. Bitwise filed its amended S-1 form last week and added in that it will waive the sponsor fee for the first $500 million in assets. The firm did not yet disclose what the fee would be.

When asked on X why there were no fees listed, senior Bloomberg ETF analyst Eric Balchunas said those weren't necessary yet.

"Because the SEC asked for the S-1s on July 8th but told issuers the fee wasn't nec yet," Balchunas posted Monday on X. "They will give guidance back to issuers soon along with the game plan. Then the docs come will come back with fees (and every other blank) filled it and then it's Go time."


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About Author

Sarah is a reporter at The Block covering policy, regulation and legal happenings. Before, Sarah was a reporter with CQ Legal writing about securities regulation, which is where she first started reporting on crypto. Sarah has also written for The Bond Buyer and American Banker, among other finance-related publications. She graduated from the University of Missouri and earned a degree in print and digital journalism. Sarah is based in Washington D.C., and is an avid coffee lover. You can follow her on Twitter @ForTheWynn.

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