Franklin Templeton Joins Ethereum ETF Rally, Applies for ETF Launch

Franklin Templeton has joined the Ethereum ETF rally with a recent filing applying for a Spot Ethereum ETF approval. On February 12, the asset management firm submitted the S-1 filing to the Securities and Exchange Commission (SEC) four weeks after the company’s Bitcoin ETF launch.

With the filing, Franklin Templeton becomes the latest firm to apply for a Spot Ethereum ETF, joining other asset managers like BlackRock, Fidelity, Grayscale, VanEck, Ark and 21Shares, Invesco and Galaxy, and Hashdex. If approved, Franklin Templeton’s exchange-traded fund would be listed as “Franklin Ethereum ETF” on the Chicago Board Options Exchange.

In addition, the asset manager hinted at its interest in stating a specific portion of its ETF’s ETH for an additional source of income. According to Franklin Templeton, “The Sponsor may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers, which may include an affiliate of the Sponsor.”

The potential Ethereum ETF launch has been a topic of discussion over the past few months, especially after the Bitcoin ETF launch. According to a previous article, the community remains confident about the Ethereum ETF launch, despite the prevailing regulatory uncertainties.

Fox Business reporter Eleanor Terrett went through a series of comments and opinions from the bulls and bears. Analyzing their opinions, she reiterated that the Bitcoin ETF launch has bolstered anticipations of the Ethereum ETF launch.

Reports stated that the SEC has so far delayed decisions on the approval of Ethereum ETF. While there are anticipations that the SEC would approve them by May 2024, financial giant JPMorgan sees less than 50% probability for the ETF to be approved by then.