Franklin Templeton is working with Spot Ethereum ETF. Cool, right? Yes, CBOE, an American options exchange, filed 19b-4 first. Looks like we’re moving in the right direction! Let’s take a look at this Spot Ethereum ETF Read the article in more detail.
Franklin Templeton is about to launch a Spot Ethereum ETF.
So 19b-4 is like paperwork for proposing rule changes, especially when listing new spot ETFs like Ethereum. It’s all about explaining the nitty-gritty of the proposed change and explaining how it could shake things up.
And guess what? Franklin Templeton has been keeping an eye on the Ethereum ETF game for some time. They joined the SEC a week ago, joining other large players like BlackRock and Ark Invest. Franklin Templeton is passionate about giving people an easier way to access ETH and streamlining the entire task of buying, holding, and trading digital assets across a variety of platforms.
And when word of Franklin Templeton’s interest got out, the price of Ethereum did a little happy dance, potentially skyrocketing by $3,500 at the time. But, as you know, the SEC is still keeping its cards close to its chest as to whether to approve it or not. Are you still hitting that 19b-4? This is a sign that things are moving, even if it’s just one step at a time.
How soon will the US SEC approve a spot ETH ETF?
Like the spot Bitcoin ETF, Ethereum seems to be on a similar trajectory, right? Remember how some issuers adjusted and fine-tuned their filings just before the SEC gave its approval in January? Well, this could be a clue that the push for a spot Ethereum ETF may be closer than we think.
According to Bloomberg’s ETF analysts, the cryptocurrency community is very optimistic, with a better than 60% chance of SEC approval by May 23. This is a certain certainty.
Now the SEC is playing a bit of a waiting game with Grayscale’s Ethereum ETF application as well as BlackRock. And even Fidelity Investment’s spot Ethereum ETF decision has been postponed to March 4th. But here’s the important point. Of all the potential spot Ethereum ETF players, Franklin Templeton is the only one to have pulled the trigger on a 19b-4 move so far.
In the grand scheme of things, this could give Franklin Templeton a leg up on the competition in winning approval. It’s like having a first-mover advantage. You know? However, it is worth noting that when it comes to spot Bitcoin ETFs, there is some confusion as the SEC gave everyone a thumbs up at the same time. But Franklin Templeton is playing his cards, and it may end up paying off big time.
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