Franklin Templeton has filed an application for a spot Ethereum ETF with the SEC
The release of the news coincided with the growth of the Ethereum exchange rate above $2,500 for the first time since the beginning of January
The American investment fund Franklin Templeton, which manages $1.5 trillion in assets, has filed an application with the U.S. Securities and Exchange Commission (SEC) to create a spot ETF on Ethereum (ETH), The Block reports.
The application for the launch of the Ethereum-ETF was issued in the standard S-1 form. Franklin Templeton plans to place ETH coins of the future spot ETF on Ethereum in a staking to generate additional income. According to the document, the company plans to entrust the storage of ETH to the Coinbase exchange as a custodian. The shares of the Franklin Ethereum ETF exchange-traded fund will be traded on the Chicago Board Options Exchange (CBOE).
The release of the news coincided with a 6% increase in the ETH exchange rate, which exceeded $2,500 for the first time since the beginning of January. At 10:19 Moscow time, the cost of the second largest cryptocurrency is $2,640.
According to Jeffrey Kendrick, head of currency and digital assets research at Standard Chartered, the price of ETH may rise to $4 thousand on expectations of approval of a spot exchange-traded fund (ETF) on Ethereum.
"As we approach the expected approval date, May 23, we believe that the price of ETH will follow the trajectory of bitcoin (BTC) or surpass its growth over a comparable period," Kendrick noted.
Source: https://www.rbc.ru/crypto/news/65cb16999a794735d421e20f
