{"id":10651,"date":"2024-02-13T11:36:39","date_gmt":"2024-02-13T09:36:39","guid":{"rendered":"https:\/\/forklog.com\/en\/franklin-templeton-seeks-approval-for-spot-ethereum-etf\/"},"modified":"2024-02-13T11:36:39","modified_gmt":"2024-02-13T09:36:39","slug":"franklin-templeton-seeks-approval-for-spot-ethereum-etf","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/franklin-templeton-seeks-approval-for-spot-ethereum-etf\/","title":{"rendered":"Franklin Templeton Seeks Approval for Spot Ethereum ETF"},"content":{"rendered":"<p>Asset management firm Franklin Templeton<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2011535\/000113743924000573\/fets1022024.htm\"> has filed an application<\/a> to register a spot Ethereum ETF.<\/p>\n<p>Coinbase Custody Trust Company will serve as the custodian for the second-largest cryptocurrency by market capitalization, while Bank of New York Mellon will handle the cash assets.<\/p>\n<p>If approved, the product will be listed on the Cboe BZX Exchange.<\/p>\n<p>The structure involves using only cash for the creation and redemption of ETF shares, similar to bitcoin-based instruments.<\/p>\n<p>Previously, a similar option was<a href=\"https:\/\/forklog.com\/en\/news\/ark-invest-proposes-boosting-ethereum-etf-returns-through-staking\"> proposed<\/a> by ARK Invest and 21Shares in an updated application for launching an Ethereum ETF.\u00a0<\/p>\n<p>The document also mentions the possibility of using staking to generate additional income. This option is also included in Franklin Templeton&#8217;s application.<\/p>\n<p>Proposals for launching a spot ETF based on the second-largest cryptocurrency by market capitalization have also been submitted by Grayscale, <a href=\"https:\/\/forklog.com\/en\/news\/sec-delays-decision-on-blackrocks-spot-ethereum-etf\">BlackRock<\/a>, and<a href=\"https:\/\/forklog.com\/en\/news\/sec-postpones-decision-on-invesco-and-galaxys-spot-ethereum-etf\"> Invesco with Galaxy<\/a>.<\/p>\n<p>Some experts <a href=\"https:\/\/forklog.com\/en\/news\/standard-chartered-predicts-sec-approval-of-spot-ethereum-etf-in-may\">believe<\/a> that the regulator will approve the products in May. Grayscale <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-predicts-possible-approval-timeline-for-ethereum-etf\">suggested<\/a> a positive decision could come in the summer.<\/p>\n<p>In December, <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> Chairman Gary Gensler, commenting on the agency&#8217;s changing stance on spot bitcoin funds, cited &#8220;court decisions&#8221; as one of the reasons. Commissioner Hester Peirce expressed confidence that such proceedings <a href=\"https:\/\/forklog.com\/en\/news\/hester-peirce-advocates-for-spot-ethereum-etf-approval-without-court-ruling\">would not be necessary<\/a> for Ethereum.<\/p>\n<p>However, some analysts <a href=\"https:\/\/forklog.com\/en\/news\/analysts-doubt-approval-of-ethereum-etf-before-2026\">doubt<\/a> the swift approval of spot ETH ETFs for various reasons.<\/p>\n<p>David Lawant, head of research at FalconX, <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-staking-demand-hits-four-month-high\">explained<\/a> the increased interest in Ethereum staking as optimism regarding the possibility of ETF issuers placing some coins in relevant services if the product is approved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asset management firm Franklin Templeton has filed an application to register a spot Ethereum ETF. Coinbase Custody Trust Company will serve as the custodian for the second-largest cryptocurrency by market capitalization, while Bank of New York Mellon will handle the cash assets. If approved, the product will be listed on the Cboe BZX Exchange. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,569,46,1383],"class_list":["post-10651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-etf","tag-ethereum","tag-franklin-templeton"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10651"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10650"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}