Franklin Templeton Spot Ethereum ETF Joined A New Race With The Big Guys

Key Points:

  • Franklin Templeton spot Ethereum ETF was filed, joining seven other firms in the competition.
  • The proposed ETF aims to offer easy access to Ethereum’s price, utilizing Coinbase Custody and Bank of New York Mellon.
  • Approval of Bitcoin ETFs fuels anticipation for Ethereum ETFs, marking a milestone for crypto investment products.
Franklin Templeton, a renowned asset manager with $1.5 trillion in assets under management, has officially filed for a spot Ethereum exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
Franklin Templeton Spot Ethereum ETF Joined A New Race With The Big GuysFranklin Templeton Spot Ethereum ETF Joined A New Race With The Big Guys

Franklin Templeton Spot Ethereum ETF Joins Competition for Approval

Franklin Templeton spot Ethereum ETF marks the company as the latest contender among eight firms seeking approval for such funds in the market.

Joining the likes of ARK 21 Shares, VanEck, Hashdex, Invesco, BlackRock, Fidelity, and Grayscale, Franklin Templeton aims to introduce a convenient means of investing in Ethereum. The proposed Franklin Templeton spot Ethereum ETF will reflect the price of ether and will be managed by Coinbase Custody Trust Company and the Bank of New York Mellon.

The Franklin Templeton spot Ethereum ETF shares are slated to be listed and traded on the Cboe BZX Exchange, streamlining access for investors to Ethereum without the complexities of direct investment. This development follows the recent approval of 11 spot Bitcoin ETFs by the SEC, signaling a significant milestone for the crypto industry.

TeccryptoTeccrypto

Anticipation Grows as Crypto Industry Eyes Ethereum ETF Approval

Despite the success of spot Bitcoin ETFs, the Franklin Templeton spot Bitcoin ETF has seen comparatively modest inflows, drawing in $76 million as of February 9. However, market analysts anticipate renewed interest in ETFs for spot Ethereum, given the momentum generated by Bitcoin ETFs.

Franklin Templeton’s entry into the spot Ethereum ETF arena further intensifies competition among ETF providers. With Coinbase Custody and Bank of New York Mellon onboard as custodians, Franklin Templeton positions itself to navigate the evolving landscape of digital asset investment products.

Visited 1 times, 1 visit(s) today

Source: https://coincu.com/247207-franklin-templeton-spot-ethereum-etf/