Ethereum

Franklin

Spot

Franklin Templeton, an American multinational holding company, has decided to double down on its crypto offerings and is now the latest Wall Street firm to file for a spot Ethereum exchange-traded fund (ETF).&nbsp;
As reported earlier by TheCoinRise, the leading financial firm was<a href="https://thecoinrise.com/us-sec-grants-official-approval-for-a-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> one of the eleven asset management firms</a> whose application for a spot Bitcoin ETF was approved by the United States Securities and Exchange Commission (SEC) on January 10. Since then, Franklin Templeton has refused to look back when it comes to digital assets.&nbsp;
<h2 id="span-style-font-weight-400-franklin-templeton-files-for-spot-ethereum-etf-span">Franklin Templeton Files for Spot Ethereum ETF</h2>
As per an S-1<a href="https://www.sec.gov/Archives/edgar/data/2011535/000113743924000573/fets1022024.htm" rel="noopener noreferrer nofollow"> filing</a> submitted with the SEC on February 12, the holding firm, which has around $1.5 trillion in assets under management (AUM), seeks to debut “Franklin Ethereum ETF” on the Chicago Board Options Exchange (Cboe).&nbsp;
According to earlier reports, the SEC has yet to approve an Ethereum ETF in the United States, but the digital asset community is optimistic regarding the approval. SEC Commissioner Hester “Crypto Mom” Peirce recently stated that approval of a<a href="https://thecoinrise.com/spot-ether-etf-wont-need-a-lawsuit-for-approval-sec-commissioner/" rel="noopener noreferrer nofollow"> spot Ethereum ETF wouldn’t require a lawsuit</a> since the court has already given a judge in the spot BTC ETF case in favor of crypto offerings.
“We shouldn’t need a court to tell us that our approach is ‘arbitrary and capricious’ in order for us to get it right,” Peirce noted.
<h3 id="span-style-font-weight-400-staking-ether-span">Staking Ether</h3>
Additionally, Franklin Templeton seeks to stake Ether, the native token of the Ethereum blockchain, to generate additional income.&nbsp;
“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,” read the filing.&nbsp;
Notably, ARK 21Shares<a href="https://twitter.com/EricBalchunas/status/1755268354355368379" rel="noopener noreferrer nofollow"> submitted</a> a similar filing and plans to stake a portion of the ETF’s Ether to generate additional income.&nbsp;
<h2 id="span-style-font-weight-400-franklin-templeton-and-crypto-etfs-span">Franklin Templeton and Crypto ETFs</h2>
As earlier reported, Franklin Templeton stirred speculation within the cryptocurrency community regarding the<a href="https://thecoinrise.com/franklin-templetons-solana-eulogy-sparks-speculation-of-spot-etf/" rel="noopener noreferrer nofollow"> possibility of a Solana exchange-traded fund (ETF)</a>. In a post on social media platform X, the asset management firm hinted at the possibility of such an offering.&nbsp;
The firm praised Solana’s ecosystem, adding that it is impressed by the surge in activity on the Solana blockchain.
<h3 id="span-style-font-weight-400-delaying-decision-on-spot-ethereum-etfs-span">Delaying Decision on Spot Ethereum ETFs</h3>
The SEC has delayed its decision on spot Ethereum ETF applications submitted by BlackRock and Fidelity in the past. The regulator said that it<a href="https://thecoinrise.com/spot-ether-etf-from-fidelity-delayed-all-you-should-know/" rel="noopener noreferrer nofollow"> needs “sufficient time”</a> to “consider the proposed rule change and the issues raised.”
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change,” said the SEC’s assistant secretary, Sherry Haywood, while postponing a<a href="https://thecoinrise.com/spot-ether-etf-application-by-blackrock-delayed/" rel="noopener noreferrer nofollow"> decision on BlackRock’s application</a>.
The post <a href="https://thecoinrise.com/franklin-templeton-applies-for-spot-ethereum-etf/" rel="noopener noreferrer nofollow">Franklin Templeton Applies for Spot Ethereum ETF</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Franklin Templeton Applies for Spot Ethereum ETF

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