According to a recent filing with the Securities and Exchange Commission (SEC), Franklin Templeton has applied for a spot Ethereum exchange-traded fund (ETF).
This puts them in the company of other big names such as BlackRock, Fidelity, Ark, 21Shares, Grayscale, VanEck, Invesco, Galaxy, and Hashdex, who have all also submitted applications in the past few months.
This move comes just four weeks after Franklin launched a spot Bitcoin ETF alongside nine other issuers.
While BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have been highly successful, Franklin has only seen about $70 million in inflows. In comparison, IBIT has brought in over $3.5 billion in Bitcoin investments in the past month, while Fidelity has seen approximately $3 billion in investments.
Despite the interest and demand for an Ethereum ETF, the SEC has consistently delayed its decision on approving one, as expected by industry experts.
