Crypto News – With the prominent Wall Street institution Franklin Templeton’s entry into the spot Ethereum ETF race today, which submitted a proposal to the SEC, the competition is becoming warmer.
New Name in the Ethereum ETF Race: Franklin Templeton Gets In The Game
A renowned company, Franklin Templeton, manages assets worth $1.4 trillion. It plans to introduce a fund that will introduce investors to ETH, the second-largest cryptocurrency by market capitalization. The S-1 registration form of the company states that the “Franklin Ethereum Trust” that is being proposed will own Ethereum and “may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers.”
Franklin Templeton Received Approval for Franklin Bitcoin ETF Last Month
The SEC approved the launch of 10 spot Bitcoin (BTC) exchange-traded funds (ETFs) in January. Following ten years of rejections, the investment vehicles are now traded on stock exchanges, enabling conventional investors to make cryptocurrency investments without actually holding cryptocurrency. One of the largest fund managers, Franklin Templeton, received regulatory approval for its Franklin Bitcoin ETF. Proposing a spot ETH ETF are BlackRock, Grayscale, and VanEck, among other prominent participants.
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