Ethereum

Franklin

Bitcoin ETF

<p><span style="font-weight: 400;">Franklin Templeton is joining the race to launch a spot Ethereum ETF (exchange-traded fund) alongside competitors including BlackRock, Fidelity and Grayscale.</span></p>
<p>The fund manager <a href="https://www.sec.gov/Archives/edgar/data/2011535/000113743924000573/fets1022024.htm" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">filed</span></a>&nbsp;<span style="font-weight: 400;">an application with the Securities and Exchange Commission (SEC) dated Feb. 12, and joins others in the queue that include Ark and 21Shares, VanEck, Invesco and Galaxy, and Hashdex, all of which submitted similar filings in the past couple of months.</span></p>
<p><img decoding="async" src="https://cloudfront-us-east-2.images.arcpublishing.com/reuters/WV7O4X6TKRMWFGXRWZPIYBI6QQ.jpg" alt="Franklin Templeton files for spot ethereum ETF | Reuters"></p>
<h2 id="span-style-font-weight-400-analysts-disagree-on-when-a-spot-ethereum-etf-will-be-approved-span"><span style="font-weight: 400;">Analysts Disagree On When A Spot Ethereum ETF Will Be Approved</span></h2>
<p><span style="font-weight: 400;">The SEC has so far delayed all decisions to approve </span><a href="https://insidebitcoins.com/news/ethereum-price-prediction-standard-chartered-expects-eth-etf-approval-in-may-as-experts-say-this-green-ico-might-be-the-best-crypto-to-buy-now" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Ethereum ETFs</span></a><span style="font-weight: 400;">. Banking giant JP Morgan says there is a 50% chance that such a fund will be approved before May, while investment bank TD Cowen said such funds may not be approved until late 2025 or early 2026.&nbsp;</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">📢 Spot Ethereum ETF approval 'unlikely until late 2025 or early 2026,' says Investment Bank TD Cowen<a href="https://twitter.com/hashtag/EthereumETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#EthereumETF</a> <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://t.co/Cj9RFVyYVU" rel="noopener noreferrer nofollow">pic.twitter.com/Cj9RFVyYVU</a></p>
 <p>— BNB Swap (@BNBSwap) <a href="https://twitter.com/BNBSwap/status/1752279275628355672?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 30, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">“We believe there is no upside for SEC Chair Gary Gensler to approve a spot Ethereum ETF given how upset progressive Democrats were over the agency’s approval of a spot bitcoin ETF earlier this month, ” said TD Cowen Washington Research Group analysts led by Jaret Seiberg in a Jan. 29 note. “This is a political call.”</span></p>
<p><a href="https://insidebitcoins.com/news/ethereum-price-prediction-standard-chartered-expects-eth-etf-approval-in-may-as-experts-say-this-green-ico-might-be-the-best-crypto-to-buy-now" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Standard Chartered</span></a><span style="font-weight: 400;">, on the other hand, believes the SEC will approve spot Ethereum ETFs by May 23, the final deadline for the first of the ETFs under consideration.&nbsp;</span></p>
<h2 id="span-style-font-weight-400-franklin-s-bitcoin-etf-unable-to-gain-significant-traction-span"><span style="font-weight: 400;">Franklin’s Bitcoin ETF Unable To Gain Significant Traction</span></h2>
<p><span style="font-weight: 400;">Franklin’s </span><a href="https://insidebitcoins.com/news/standard-chartered-bank-expects-spot-ethereum-etf-approval-on-may-23-says-eth-might-soar-to-4k" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Ethereum ETF</span></a><span style="font-weight: 400;"> filing comes approximately four weeks after it and nine other issuers launched a spot Bitcoin ETF. Since the launch of these investment products on Jan. 11, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have seen the most demand. </span></p>
<p><span style="font-weight: 400;">Franklin’s fund, however, had a less successful start and was only able to register $70 million in inflows since launching. This is overshadowed by the $3.5 billion and $3 billion IBIT and FBTC were able to attract, respectively, during the same period.&nbsp;</span></p>
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Franklin Templeton Joins BlackRock, Fidelity, Grayscale In Ethereum ETF Race

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