Investment firm Franklin Templeton has filed an application with the U.S. Securities and Exchange Commission (SEC) to create a spot Ethereum ETF.
The move aims to provide investors with an investment opportunity while following the price of Ethereum. The application, known as Form S-1, states that the Franklin Ethereum Trust will reflect the price movements of Ethereum.
To safeguard Ethereum and cash, cryptocurrency exchange #Coinbase and Bank of New York Mellon will act as custodians, respectively.
According to the filing, the fund's shares will be listed and traded on the Cboe #BZX exchange, offering investors a convenient platform to buy and sell ETF shares. This development comes after the #SEC postponed its review of #BlackRock's application for a spot Ethereum ETF in late January. In addition, a decision on the joint application from Invesco and Galaxy Digital was postponed until March 2024.
It's worth noting that at the time of writing, the price of Ethereum is hovering around $2675.
