News - Franklin Templeton wants the Ether ETF

By Ted Maas

Franklin Templeton wants the Ether ETF

Ethereum (ETH)
ETF

Demand for the Ether ETF is getting louder. Franklin Templeton is the next financial giant to submit its ETH ETF application.

This week, investment firm Franklin Templeton took the first step toward an Ether ETF, following the lead of other asset managers who have already filed for approval with the U.S. Securities and Exchange Commission (SEC) in recent weeks.

Franklin Templeton filed the major S-1 registration statement for the "Franklin Ethereum ETF," saying the fund should generally reflect the price of Ether. Earlier, Ark Invest and 21Shares, as well as Grayscale Investments and BlackRock, filed similar applications for Ether ETFs. The push for new Ether ETFs follows the successful launch of Bitcoin ETFs. These are seen as an important step in broadening the investor base for Bitcoin, which primarily affects institutional investors, but also older and less tech-savvy retail investors. Investors can then indirectly buy ETH through a normal broker.

The company plans to deploy some of the ETF's ether holdings to generate additional income. This approach illustrates the evolving strategies asset managers are considering to increase their investors' returns.

About four weeks ago, Franklin, along with nine other issuers, had already launched a Bitcoin spot ETF. The price of Ether has risen more than 10 percent in the past week.

The SEC recently delayed its decisions on ETF applications for Ether, and experts differ on the likelihood of approval. While some are already assuming approval in May, SEC Chairman Gary Gensler might withhold approval this time.

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