02.12.24

Franklin Templeton Files for Spot Ethereum ETF

by: Pritam Biswas and Suzanne McGee

Franklin Templeton has filed for a spot Ethereum exchange-traded fund (ETF), following the recent approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC). With Franklin's registration, there are now eight ETF providers competing to introduce spot Ethereum ETFs, all of whom rolled out spot bitcoin products in January. Last month, the SEC delayed its decision on an application by crypto asset manager Grayscale Investments to convert its Ethereum trust product into a spot ETF. BlackRock's application at launching a similar product was also delayed by the market regulator. VanEck was the first to file for a spot Ethereum ETF, which the SEC must either approve or deny by May 23.

Read the full article on Reuters