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VanEck Declares Zero Fee for Spot Ethereum ETF Gearing Up for July 2 Launch

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8 months ago

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Soon after VanEck filed Form-8A for its spot Ethereum ETF on Tuesday, June 25, another filing suggested that it would completely waive the ETF fees for an unspecified time till 2025, or until the assets hit $1.5 billion, whichever comes earlier. With analysts expecting July 2 as the launch date for the Ethereum ETFs, issuers like VanEck are already raising the competition bar.

VanEck Eyes Leadership for Spot Ethereum ETFs

In a recent email to ETF.com, Matthew Sigel, head of digital assets at VanEck outlined the firm’s strategic approach to crypto ETFs. He said that  VanEck “aims to be a leader on crypto ETF fees even if it means we lose money at the outset.”

He further added that the plan is “to make it up on volume; in this case, decentralized finance volume”. Sigel said that if the Ether ETFs manage to spark a renewed interest in Ethereum, it would boost the network activity, ultimately driving the Ethereum price higher.

Also Read: ETH Price Reversal Soon As Ethereum ETF Coming In Two Weeks

Additionally, Sigel stated that VanEck is also exploring investments in Ethereum-based DeFi projects such as Aave and Curve, highlighting the firm’s greater interest in the decentralized finance (DeFi) sector.

VanEck Triggers A Fee War

Currently, VanEck and Franklin Templeton are the only prospective issuers who have declared the fees for the Ether ETFs. Previously, Franklin stated that it would charge a 0.19% fee for its spot Ethereum ETF.

Bloomberg Intelligence ETF analyst Eric Balchunas said that issuers usually don’t disclose their fee structure until the very last of the launch period. Moreover, he said that firms are awaiting BlackRock’s call before making a move.

“What BlackRock is going to charge is prob the single most imp missing variable outside of exact launch date. Their fee is the sun that the rest will need to orbit around. Must be nice,” he said.

The removal of the Ethereum staking feature from the spot Ethereum ETFs would be a crucial factor in deciding on the ETF fees. With direct investments in Ether, investors can earn an additional 3% yield by staking their ETH. Thus, ETF issuers will have to go the extra mile to attract investors to invest in Ethereum ETFs.

In a major update, SEC Chair Gary Gensler said that the progress on spot Ethereum ETFs is very smooth for the moment.

Also Read: Spot Bitcoin ETFs Vs. Spot Ethereum ETFs: Which Is The Better Buy?

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Litecoin Whales On Buying Spree Sack 930K Coins Amid LTC ETF Buzz, What’s Next?

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4 hours ago

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February 22, 2025

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Litecoin whales have shaken the crypto market to its core on Saturday, embarking on a massive buying spree amid the latest ETF advancement. Renowned crypto analyst Ali Martinez revealed that these whales accumulated nearly 1 million tokens over the past two weeks. Investors are eyeing this as a highly bullish event, given that the market has also seen Canary Capital’s LTC ETF on the Depository Trust & Clearing Corporation (DTCC) recently.

Litecoin Whales Buy Heavily, Investors Bullish Amid ETF Development

According to an X post by Ali Martinez on February 22, Litecoin whales acquired 930,000 tokens in the past two weeks. This data reverberated substantial market optimism for the crypto, underscoring heightened buying pressure despite the broader market turbulence.

Litecoin Whales Litecoin Whales
Source: Ali Charts, X

Notably, crypto whales are large-scale investors with considerable trading experience in the market. Their trade maneuver to accumulate coins surfaces as bullish news, underlining market confidence in the token’s potential to gain on the back of recent developments.

Canary Capital’s ETF Emerges On DTCC

The latest ETF development for the token has solidified hopes of an approval ahead. CoinGape reported that Canary’s LTC ETF appeared on the DTCC platform under the ticker LTCC this week. This saga has solidified investor bullishness as an exchange-traded product backed by the crypto may be available soon.

Also, renowned ETF analyst Eric Balchunas further anticipated that there is a 90% chance of approval in 2025. The Litecoin whale accumulations amid this bullish event have further boosted the coin’s market sentiment, indicating potential gains ahead.

LTC Price Eyes Rally?

However, despite the massive buying, LTC price tanked over 5% on Saturday, closing in at $128.13. The coin hit a bottom and peak of $123.93 and $139.86 in the past 24 hours. The weekly chart for the token also illustrated a 3% drop. This waning action primarily falls in with the broader crypto market volatility.

Nevertheless, renowned crypto trader Carl Moon took to X, revealing that a $143 price target looms for the token. As per Carl, LTC is forming a bullish flag on lower timeframes, signaling an uptrend ahead. The significant buying pressure brought by Litecoin whales further supports this bullish prediction.

Litecoin (LTC) priceLitecoin (LTC) price
Source: Carl Moon, X

Crypto market traders and investors thoroughly monitor the token, reflecting optimism amid recent ETF developments and strong whale support.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Lawyer Estimates Maximum Timeframe for Ripple vs SEC Case Dismissal

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5 hours ago

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February 22, 2025

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Amidst the SEC’s positive approach to XRP exchange-traded funds (ETFs), anxiety is building around the potential resolution of the Ripple lawsuit. Notably, the recent settlement of the Coinbase case has fueled community optimism about a potential dismissal of the XRP lawsuit. According to legal expert Jeremy Hogan, a settlement in the Ripple vs. SEC case is possible as early as Q2 2025.

Will XRP Lawsuit be Settled by May 2025?

As the community awaits an imminent resolution in the XRP lawsuit, advocate Jeremy Hogan shared his insights. In an X post, Hogan stated that the Ripple vs. SEC case could witness a settlement by the first half of April or early May. However, he clarified that the prediction is merely his intuition and not based on any concrete evidence.

Hogan’s comments came in response to Good Morning Crypto host Johnny Krypto’s post. Addressing Hogan, Johnny Krypto shared a thread, seeking the lawyer’s opinion on the impending conclusion of the XRP lawsuit. The message read, “Do you think the XRP case can get dropped sooner than you originally thought or does May still feel right to you gut??

Coinbase Case Closure and XRP Lawsuit Settlement

In a surprising development, the US SEC agreed to drop the prolonged Coinbase lawsuit, marking a significant milestone in the crypto space. The move also highlights the SEC’s regulatory changes that visions the establishment of the US crypto environment.

Celebrating the significant development, Coinbase CEO Brian Armstrong posted on X that the platform reached an agreement with the SEC after “years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country.”

Meanwhile, Jeremy Hogan sees the Coinbase suit dismissal with prejudice as a strong win, as it permanently closes the case. He means that there is no room for the SEC to refile the case.

Notably, as per Hogan’s words, the SEC’s bold move suggests they’re not waiting for Commissioner Atkins’ confirmation to take decisive action on crypto regulation. This implies the SEC might make more crypto-friendly moves even before Atkins takes office, potentially indicating an imminent XRP lawsuit settlement.

SEC’s XRP ETF Acknowledgements Spark Enthusiasm

Over the last few days, the SEC has taken significant steps towards potentially approving XRP ETFs. Particularly, the SEC acknowledged XRP ETF applications submitted by multiple asset managers including Grayscale, 21Shares, CoinShares, Bitwise, and Canary Capital.

This optimistic move, coupled with the SEC’s decision to drop the Coinbase case, has sparked speculations of an early XRP lawsuit settlement. Previously, Jeremy Hogan posited that the XRP lawsuit conclusion could be possible before the SEC’s approval of an XRP ETF.

Although the SEC’s ETF nod doesn’t assure approval, it has fueled community optimism about a potential ETF launch and lawsuit dismissal. As per wider speculations, with the SEC recognizing XRP ETF applications, a lawsuit dismissal is now within reach.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Will Pi Coin Surpass XRP Price After Binance Listing?

Published

7 hours ago

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February 22, 2025

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The Pi coin finally launched on the mainnet today, which has already led to predictions on how high the crypto could rise following the launch. Now, crypto analyst Gem Hunter has provided a bullish outlook for the coin, suggesting that it could even surpass the XRP price after it gets listed on Binance.

Pi Coin Could Surpass XRP Price After Binance Listing

Gem Hunter recently suggested that the Pi coin price could surpass the XRP price after a potential Binance listing. In an X post, the analyst noted that Pi network’s chart doesn’t look bad at all and hinted that the current price was the bottom.

The analyst further remarked that the Pi coin had recorded almost $1 billion trading volume in eight hours despite listing on only a few centralized exchanges (CEXs). Gem Hunter stated that the real fun will start when Binance and other top crypto exchanges list Pi. As such, he urged market participants to buy the dip and hold.

ImageImage

The analyst’s accompanying chart showed that the Pi coin price could rally to as high as $2.8 when Binance and these top exchanges potentially list the coin. A rally to this price level could put Pi above the XRP price, which is currently trading at around $2.6.

It is worth mentioning that Binance is currently running a community poll on whether it should list Pi. Most community members have voted for the top crypto exchange to list the coin. As such, there is the possibility that Binance could list the crypto at some point, which would provide some bullish momentum for its price.

The Pi network mainnet officially launched today. Consequently, the Pi coin also went live on several exchanges, including OKX, and reached an all-time high (ATH) of $2.2 before witnessing a price correction.

XRP Price Could Surge Before Then

Crypto analyst Dark Defender recently predicted that the XRP price could surge to $3 soon enough, a move which would see the crypto surpass the projected $2.8 level for Pi coin. According to the analyst, XRP will see a break towards $2.77 first and then towards $3 “within hours.”

Meanwhile, in his analysis of XRP in the 12-hour time frame, crypto analyst Egrag Crypto noted that the coin has bounced off the low edge of the ascending triangle, showing bullish momentum. The analyst stated that targeting $2.83 is the next bullish milestone for XRP.

Egrag Crypto further remarked that a bullish signal will occur when XRP closes above the $2.90 and $3.10 range with confirmation. He claimed this would turn this range into strong support for a bullish continuation and a major milestone from a structural perspective.

ImageImage

The XRP price is already up today thanks to bullish fundamentals such as the SEC’s acknowledgment of the XRP ETFs and Hashdex’s XRP ETF, which is set to launch in Brazil.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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