Spot Ethereum ETF Soon?: Whats the Status?
So, Franklin Templetons getting things rolling with that Spot Ethereum ETF, cool huh? Yeah, the CBOE, the U.S. options exchange, has gone ahead and filed a 19b-4 for them. Looks like theyre making moves in the right direction! Lets take a look at this Spot Ethereum ETF article in more detail.
Franklin Templeton is nearing the launch of a Spot Ethereum ETF
So, a 19b-4 is like the go-to paperwork for suggesting a rule tweak, especially when it comes to listing a new spot ETF like Ethereum. Its all about laying out the nitty-gritty of the proposed change and spelling out how it could shake things up.
And guess what? Franklin Templetons been eyeing that Ethereum ETF game for a bit now. They threw in their hat with the SEC a bit over a week ago, joining other big players like BlackRock and Ark Invest in the race. Franklin Templetons pumped about offering folks an easier way to dive into ETH, streamlining the whole buying, holding, and trading digital assets gig across various platforms.
And hey, when word got out about Franklin Templetons interest, Ethereums price did a little happy dance, potentially setting up for a $3,500 surge back then. But, you know, the SECs still keeping their cards close to their chest on whether theyre giving this the green light. Still, slapping down that 19b-4? Thats a sign that things are moving, even if its just one step at a time.
How Soon Will the US SEC Approve a Spot ETH ETF?
Just like with the spot Bitcoin ETFs, it seems like we might be on a similar track with Ethereum, right? Remember how some issuers were tweaking and fine-tuning their submissions just before the SEC gave the thumbs up back in January? Well, that might be a clue that the go-ahead for a spot Ethereum ETF could be closer than we think.
According to Bloombergs ETF analysts, the crypto communitys feeling pretty optimistic about it, with odds tipping over 60% for the SEC to give the nod by May 23. Thats some solid confidence right there.
Now, the SECs been playing a bit of a waiting game with Grayscales Ethereum ETF application, as well as BlackRocks. And hey, even Fidelity Investments spot Ethereum ETF decision got pushed back to March 4. But heres the kicker: out of all the potential spot Ethereum ETF players, Franklin Templetons the only one whos pulled the trigger on that 19b-4 move so far.
In the grand scheme of things, this could give Franklin Templeton a leg up over the competition when it comes to getting the green light. Its kinda like snagging a first-mover advantage, you know? Although, its worth noting that with spot Bitcoin ETFs, the SEC gave the thumbs up to everyone at the same time, so its a bit of a toss-up. But hey, Franklin Templetons playing their cards, and it might just pay off big time in the end.
Read more: https://cryptoticker.io/en/spot-ethereum-etf-status/
Text source: CryptoTicker
