$1.6 Trillion Company Takes First Step Towards Ethereum - Coin Bulletin

Investment firm Franklin Templeton has taken the first step to establish a spot Ethereum ETF.

The company, which has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC), stated that the Franklin Ethereum ETF fund will mirror the price of Ethereum overall.

Coinbaes Custody Trust Company and Bank of New York Mellon were selected as custodians of the fund. The fund is planned to be listed on the Cboe BZX Exchange.

It has been announced that the fund will address the complexities and burdens that come with investing directly in Ethereum. It was emphasized that payment transactions in the fund will be made in cash.

Over the past few months, Ark&21Shares, Grayscale Investments, and BlackRock have also applied for spot Ethereum ETFs.

As of Jan. 31, 2024, Franklin Templeton had $1.6 trillion worth of assets under management, according to a statement this week.

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