(Reuters) – Investment management company VanEck plans to charge a 0.20% fee on its proposed Ethereum spot exchange-traded fund, according to a U.S. Securities and Exchange Commission filing on Friday.
Last month, the SEC approved applications from Nasdaq, CBOE and the NYSE to list ETFs linked 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 (NYSE:), are looking to launch ETFs tied to the second-largest cryptocurrency after the SEC approved a Bitcoin ETF in January at a watershed moment for the industry.
The ETF Spot ETF allows investors to gain exposure to the price of Ethereum without the complexities and risks associated with directly owning Ethereum.