Crypto Mania

Franklin Templeton Requests Approval to Launch Spot

In an astounding development in the ETF market, asset manager Franklin Templeton has filed for a Spot Ethereum ETF approval. According to the S-1 filing, the asset manager’s “Franklin Ethereum ETF” will be listed and traded on the Cboe BZX Exchange, Inc. after the approval.
Franklin Templeton acknowledged the ETF launch as an “investment similar to an investment in ether relative to acquiring, holding and trading ether directly on a peer-to-peer or other basis or via a digital asset platform.” They added,

“The Shares have been designed to remove obstacles associated with the complexities and operational burdens involved in a direct investment in ether by providing an investment with a value that reflects the price of the ether owned by the Fund at such time, less the Fund’s expenses.”

The other leading asset managers that have already applied for the Spot Ethereum ETF launch include Grayscale, BlackRock, Fidelity, Ark and 21Shares, VanEck, Invesco and Galaxy, and Hashdex. James Seyffart, Bloomberg’s Senior ETF analyst, recently shared an X post, drawing the community’s attention to Franklin Templeton’s entry into the Ethereum ETF rally.

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