Firms vying for a position in the Ethereum exchange-traded fund (ETF) market have submitted their amended registration statements, revealing details on seed investments and fees as they await the Securities and Exchange Commission's (SEC) final approval. This development follows the SEC's approval of 19b-4 forms for eight Ethereum ETFs last month.

BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy, and 21Shares were among the issuers filing amended statements on Friday afternoon. The filings have disclosed some of the lowest fees seen in the crypto ETF space, adding competitive pressure among issuers.

Franklin Templeton set its Ethereum ETF fee at 0.19% back in May, while VanEck disclosed on Friday that its fee would be 0.20%. Eric Balchunas, a senior Bloomberg ETF analyst, noted the competitive nature of these fees in a post on X (formerly Twitter), highlighting that VanEck's fee of 0.20% is very close to Franklin Templeton's 0.19%. This low fee structure could pressure BlackRock to keep its fees under 30 basis points. Balchunas remarked, "So far looks like Eth gonna be as low or even lower fees than btc," referencing the fees for Bitcoin ETFs, which range between 0.21% and 0.39%.

While these low fees are notable, the issuers still require their registration statements (S-1s or S-3s in Grayscale's case, as it seeks to convert its Ethereum Trust to an ETF) to become effective before trading can commence.

In addition to fees, seed investments were also disclosed. 21Shares US LLC, acting as the sponsor for the 21Shares Core Ethereum ETF, was the seed capital investor for the fund. According to the amended filing, the sponsor purchased 20,000 shares on June 18, contributing to a total seed investment of $340,739. The filing stated, "In its capacity as the Seed Capital Investor, 21Shares US LLC has acted as a statutory underwriter in connection with this purchase. The total proceeds to the Trust from the sale of the Initial Seed Creation Baskets were $340,739."

These disclosures mark significant steps towards the launch of the first spot Ethereum ETFs, which are eagerly anticipated by the market. The competitive fees and solid seed investments signal a robust entry into the Ethereum ETF market, which could offer investors more accessible and cost-effective ways to gain exposure to Ethereum.