Ethereum

Franklin

Spot

This week, the crypto industry saw the launch of spot Ethereum ETFs, a big step for the market. Nine companies, including Franklin Templeton and VanEck, got the green light from the SEC to introduce these ETFs.&nbsp;
However, things didn’t kick off with a bang.
Franklin Templeton’s Franklin Ethereum ETF (EZET) started off on a shaky note, dropping about 10% since its launch. This drop is part of a broader sell-off in the crypto market.&nbsp;
David Mann, head of ETF product and capital markets at Franklin Templeton, commented that:&nbsp;
<blockquote>
 “We think they’ll be a hit, but whether they’re going to get the same amount of assets is probably unlikely.”&nbsp;
</blockquote>
He added that he is hopeful but realistic about the potential.
<h3 id="span-style-font-weight-400-a-bumpy-start-for-ethereum-etfs-span">A bumpy start for Ethereum ETFs</h3>
VanEck’s Ethereum ETF (ETHV) also had a tough start. CEO Jan Van Eck pointed out that while these funds might help diversify investors’ portfolios, they likely won’t see the same level of enthusiasm as Bitcoin ETFs.&nbsp;
<blockquote>
 “I don’t think they’re going to be the same, same kind of hit as spot Bitcoin ETFs.”&nbsp;
</blockquote>
Despite this, there’s a sense of cautious optimism about the future of these ETFs. Ben Johnson from Morningstar offers a bit of a reality check. He mentioned that the volumes we’re seeing are normal when you consider the relative size of Ethereum compared to Bitcoin.&nbsp;
“There’s healthy appetite. There’s healthy volume. There’s healthy demand there,” he said.&nbsp;
As he <a href="https://www.cnbc.com/2024/07/25/why-the-new-spot-ether-etfs-may-be-a-hit-despite-recent-weakness.html" rel="noopener noreferrer nofollow" target="_blank">pointed out</a>, these ETFs are opening doors to new markets and giving investors a convenient, cost-effective way to get into crypto. Right now, Ethereum is priced at $3,283.

Spot Ethereum ETFs will succeed despite weak start

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