Ethereum
Grayscale Ethereum ETF Mini-Trust Announces Full Fee Waiver Up to This Limit
Just four days before the launch of the Ethereum spot ETF, Grayscale has announced major changes to its fee structure, making its ETH mini-trust the cheapest among its competitors.
Grayscale Ethereum ETF Fee Waiver
Earlier this week, Shades of grey Grayscale has announced that its Ethereum ETF fee structure has been raised to 2.5%, making it 10 times more expensive than all its competitors in the market. The move has cast Grayscale in a negative light, with analysts saying the asset manager has not learned enough lessons despite outflows from its spot Bitcoin ETFs over the past six months.
As part of this course correction, Grayscale has reduced fees on its Ethereum mini-trust to just 15 basis points. Additionally, the asset manager announced a full fee waiver for capital inflows of up to $2 billion or six months, whichever comes first.
Lowered to 15bps, with a full waiver for the first $2 billion. That’s what I expected yesterday. Grayscale has realized the situation. https://t.co/Y0sXyTS0JT
–Scott Johnsson (@SGJohnsson) July 18, 2024
Interestingly, this fee revision makes the Grayscale Ethereum mini-trust the cheapest of all ETH ETF issuers currently on the market.
Read also : Ethereum ETF Launch Does Not Guarantee Solana ETF Approval
Nate Geraci Praises Grayscale
ETF Store President Nate Geraci praised Grayscale for making this strategic shift and competing with other market players. Geraci said, “Well done, Grayscale… This is how you go for the jugular.”
Geraci added that Grayscale has paved the regulatory path for the Bitcoin Spot ETF and Ethereum ETFs. Thus, he added that there was no reason not to capitalize on this advantage by taking a leading position in the crypto spot ETF category.
Well done, Grayscale…
This is how you reach the jugular.
Grayscale paved regulatory path for btc and eth spot ETFs. Period.
There is no reason not to capitalize on this by taking a leadership position in how they approach competition in the crypto spot ETF category.
Smart decision in my opinion. https://t.co/j9EvuoxdA4
— Nate Geraci (@NateGeraci) July 18, 2024
THE Ethereum Price ETH has remained broadly stable after surging to $3,500 earlier this week. At press time, ETH is trading around $3,400 as investors cautiously await the ETF launch next week.
According to data from Deribit, Ethereum options with a notional value of $0.48 billion are set to expire today. The put/call ratio is only 0.36, suggesting that the market is mostly bullish. On the other hand, the maximum pain point is at $3,150.
Read also : Is the Ethereum ETF launch a “Sell the News” event like the Bitcoin ETF?