Franklin Templeton Lists Ethereum ETF on DTCC Platform
Franklin Templeton, a major player in asset management, has recently unveiled its latest offering, the Franklin Ethereum TR Ethereum ETF (EZET), on the Depository Trust and Clearing Corporation (DTCC) website.
This move marks a significant step in the world of securities trading within the United States.
Observers will note the presence of the ETF in the “Create/Redeem” section of the DTCC website, indicating its readiness for both creation and redemption. However, it’s crucial to understand that the mere listing of Franklin Templeton’s Ethereum spot ETF on the DTCC platform does not equate to an automatic green light from the US SEC.
The DTCC website routinely showcases securities eligible for trading and settlement, encompassing ETFs that have navigated through specific registration and compliance protocols. Despite this, final approval of an ETF filing rests squarely with the SEC, which evaluates applications based on a diverse range of regulatory criteria.
With assets totaling a staggering 1.5 trillion dollars, Franklin Templeton filed its Form S-1 with the SEC on Feb. 12, seeking the go-ahead for a spot Ethereum (ETH) ETF.
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Recent developments indicate a delay in the SEC’s decision-making process regarding Franklin Templeton’s ETF application, with an extension granted until June 11. This extension provides an additional 45 days for the SEC to conduct a thorough evaluation of the proposed rule change related to the listing and trading of Franklin Ethereum Trust shares on the Cboe BZX Exchange.
Joining the fray in the race for spot Ether ETFs are industry giants such as BlackRock, Grayscale, VanEck, and ARK Invest. However, it’s worth noting that the SEC’s stance on approving spot Ethereum ETFs may differ from its approach to spot Bitcoin ETFs, which gained approval earlier this year.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
