Franklin Templeton is making big moves! They’ve just filed for a spot Ethereum ETF with the SEC. This puts them in the ring with heavyweights like BlackRock and Fidelity.
Here’s What’s Happening Into Ethereum ETF Race
Franklin Templeton isn’t new to the game. They already launched a Bitcoin ETF, and now they’re eyeing Ethereum.
- Coinbase Custody will keep the Ether safe.
- Bank of New York Mellon will handle the cash.
— James Seyffart (@JSeyff) February 12, 2024
“In January, the SEC approved eleven spot bitcoin ETFs, including the Franklin Bitcoin ETF trading under ‘EZBC.”Cryptonews.
Despite the crowded field, Franklin Templeton is optimistic. Their Bitcoin ETF hasn’t hit big volumes yet, but they’re not worried. They believe it’s only a matter of time before they catch up with the big players.
Why This Matters
US Bitcoin Spot ETFs have seen $2.8 billion flow in. This shows people are eager to invest in crypto without the hassle of owning it directly. Ethereum’s gas fees are up, thanks to the new ERC-404 token standard. This means more activity and interest in Ethereum.
Franklin Templeton’s move is a big deal. It shows that major investment firms are getting serious about crypto. This could mean more options for investors and a bigger push into the mainstream for cryptocurrencies.