Potential ETF issuers are in a race to the finish line — if the Securities and Exchange Commission approves the ETFs, of course. 

On Monday, most of the prospective funds filed updated S-1s with the SEC. While the S-1s aren’t indicative of approval and aren’t even the final step in the ETF process for these firms, they give a glimpse into who’s involved in the funds and what fees they plan to charge. 

A detail seen as important as the race hits the home stretch are authorized participants. An authorized participant is able to both create and redeem shares of an ETF, which can then be exchanged for either a basket of securities reflecting the holdings of the ETF or for…

Read more on Blockworks