Ethereum

Franklin

Asset management firm Franklin Templeton has launched its Ethereum exchange-traded fund (ETF), dubbed the “Franklin Ethereum TR Ethereum ETF,” with the ticker code EZET. 
The spot Ethereum ETF has been <a href="https://www.dtcc.com/products/cs/exchange_traded_funds_plain_new.php" target="_blank" rel="">listed </a>on the Depository Trust and Clearing Corporation website, a significant platform for securities transactions in the United States. 
The listing on the DTCC’s “Create/Redeem” column indicates that the ETF is now available for creation and redemption, signaling a significant step in its operational rollout. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="876" height="681" src="https://crypto.news/app/uploads/2024/04/Franklin-Templeton-Etherereum-ETF.webp" alt="Franklin Templeton's Ethereum ETF hits DTCC, hopes for SEC approval - 22" class="wp-image-14268725">
 <figcaption class="wp-element-caption">
 Franklin Templeton’s Ethereum spot ETF is now listed on DTCC | Source: DTCC
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</figure> 
The listing does not imply approval from the U.S. Securities and Exchange Commission (SEC), which is still pending. 
Listing on the DTCC website signifies that the ETF has completed certain registration or compliance processes, making it eligible for trading and settlement within the DTCC’s systems. 
The final approval, however, hinges on the SEC’s assessment against various regulatory standards. 
 You might also like: <a href="https://crypto.news/hong-kong-to-reportedly-approve-first-bitcoin-ethereum-etfs/" rel=""> Hong Kong to reportedly approve first Bitcoin, Ethereum ETFs </a> 
Franklin Templeton <a href="https://crypto.news/franklin-templeton-enters-competition-to-introduce-spot-ether-etf/" rel="">filed </a>a Form S-1 with the SEC in February, seeking to launch a spot Ether (ETH) ETF. If approved, it would be traded as “Franklin Ethereum ETF” on the Chicago Board Options Exchange. 
However, in a recent update this April, the SEC <a href="https://crypto.news/sec-delays-franklin-templeton-spot-ethereum-etf/" rel="">announced a delay </a>in its decision on the application, extending the review period by an additional 45 days to June 11. 
Industry heavyweights, including<a href="https://crypto.news/sec-postpones-decision-on-blackrock-and-fidelitys-ethereum-spot-etf/" rel=""> BlackRock</a>, <a href="https://crypto.news/grayscale-ethereum-etf-decision-postponed-again-sec/" rel="">Grayscale</a>, VanEck, and ARK Invest, are also contenders in the race to secure approval for their own spot in Ether ETFs. 
However, the prospects for these Ethereum-based ETFs gaining approval from the SEC appear to be different from those for spot Bitcoin ETFs, which received the green light in January. 
In March, Bloomberg ETF analyst Eric Balchunas assessed the likelihood of a spot Ether ETF being approved in May <a href="https://crypto.news/bloomberg-ethereum-etf-approval-may/" rel="">at about 35%</a>. He pointed out the SEC’s less proactive approach compared to the Bitcoin ETF applications. 
Balchunas also mentioned that the SEC Chair Gary Gensler’s views on Ether and his reluctance to define it explicitly as a security could influence the final outcome. 
 Read more: <a href="https://crypto.news/sec-seeks-comments-on-three-spot-ethereum-etf-filings-analysts-not-bullish/" rel=""> SEC seeks comments on three spot Ethereum ETF filings, analysts not bullish </a>

Franklin Templeton’s Ethereum ETF hits DTCC, hopes for SEC approval

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