Investment firm Franklin Templeton has taken the first step to establish a spot Ethereum ETF.
A company that has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC). Franklin Ethereum ETF He stated that his fund will reflect the overall Ethereum price.
Coinbaes Custody Trust Company and Bank of New York Mellon were chosen as the custodians of the fund. The fund is planned to be listed on the Cboe BZX Exchange.
fund direct investment in Ethereum It was announced that doing so would eliminate the complexities and burdens that come with it. Payment transactions in the fund will be made through cash emphasized.
Over the past few months, Ark&21Shares, Grayscale Investments and BlackRock have also applied for spot Ethereum ETFs.
According to the statement made this week, Franklin Templeton will be under management as of January 31, 2024. $1.6 trillion worth of assets.