Franklin Templeton Files for Spot Ethereum ETF
Investment firm Franklin Templeton has submitted an application with the Securities and Exchange Commission (SEC) to launch a spot Ethereum exchange-traded fund (ETF) in the United States. The filing was made on Monday, with Coinbase Custody serving as the Ether custodian and Bank of New York Mellon as the cash custodian, administrator, and transfer agent for the ETF. Franklin Templeton joins a growing list of asset managers that have applied for spot Ethereum ETFs, including BlackRock, Fidelity, Grayscale, VanEck, Invesco, Galaxy, Ark Invests, and 21Shares.
Franklin Templeton Confident in Spot Bitcoin ETF
In January, the SEC approved eleven spot Bitcoin ETFs, including Franklin Templeton’s “EZBC” ETF. Despite lower trading volumes compared to industry giants like BlackRock and Grayscale, Franklin Templeton remains optimistic about its spot Bitcoin ETF’s future success. The company believes its product will gain traction in the market.
US Bitcoin Spot ETFs Attract $2.8 Billion Since Launch
CoinShares, a digital asset management firm, has seen $2.8 billion in inflows since the launch of US spot Bitcoin ETFs. These investment options allow retail investors to participate in the digital asset ecosystem without directly purchasing Bitcoin. Instead, investors can buy tokenized shares in a fund that tracks Bitcoin’s price.
Ethereum Gas Fees Surge
Ethereum gas fees have reached their highest levels since March 2023 due to increased interest in ERC-404 tokens. On February 9, average peak gas prices rose to 70 gwei ($60) per standard transaction, with some reaching as high as 377 gwei. The surge in gas fees can be attributed to the popularity of the ERC-404 token standard.
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