21Shares has dropped Ark Invest from its Ethereum ETF filing, renaming the product from "Ark 21Shares Ethereum ETF" to "21Shares Core Ethereum ETF". This change comes as six companies, including 21Shares, Bitwise, Fidelity, Invesco Galaxy, VanEck, and Franklin Templeton, updated their spot Ethereum ETF S-1 registration statements on May 31 to meet the SEC's end-of-month deadline.

Franklin Templeton made headlines by announcing a sponsor fee of 0.19% for its ETF, making it the first issuer to disclose a percentage-based fee. This move signals a departure from the intense "fee war" seen in the spot Bitcoin ETF market, where issuers offered steep discounts and temporary waivers to attract investors. Instead, Ethereum ETF issuers seem to be prioritizing transparency and stability in their pricing structures.

The updated filings also reveal that none of the companies involved in the funds will engage in staking, and in-kind creations and redemptions will be prohibited until further regulatory approval is obtained. Some filings also disclosed initial seed sale proceeds and ticker symbols for the first time.

The SEC's approval of 19-b4 filings on May 23 has brought spot Ethereum ETFs one step closer to launch, with experts predicting a June-end debut. BlackRock and Grayscale filed amendments to their iShares and S-3 statements on May 29 and 30, respectively, adding details such as seed purchase amounts and sponsor fee maximums.

With all prospective spot ETH ETF issuers now meeting the SEC's deadline, the regulator will review the applications and may request further amendments before the funds can launch. Bloomberg ETF analyst Eric Balchunas expects the process to take a few weeks, with the funds projected to launch by July 4 at the latest.

This development marks a significant milestone in the growth of the Ethereum ETF market, offering investors a new way to access the second-largest cryptocurrency by market capitalization. As the SEC reviews the applications, market participants eagerly await the launch of these funds, which could potentially bring new liquidity and excitement to the cryptocurrency market.