Franklin Templeton Lists Ethereum ETF on DTCC
Asset management firm Franklin Templeton has listed its Ethereum exchange-traded fund (ETF) – Franklin Ethereum TR Ethereum ETF (EZET) – on the website of the Depository Trust and Clearing Corporation (DTCC), a prominent platform for securities transactions in the United States. .
The “Create/Redemption” column of the DTCC website lists the ETF, indicating its availability for creation and redemption. The listing of the Franklin Templeton Ethereum Spot ETF on the DTCC website does not mean that Franklin Spot Ether ETF's application to the United States Securities and Exchange Commission (SEC) will be approved.
DTCC's website often lists securities eligible for trading and settlement in its systems, including ETFs that have completed special registration or compliance procedures. However, the approval status of an ETF file is determined by the SEC based on various regulatory requirements and considerations.
The $1.5 trillion asset management firm filed a Form S-1 with the SEC on Feb. 12 to file for the SpotEther (ETH) ETF. If approved, the ETF will be listed on the Chicago Board Options Exchange as the “Franklin Ethereum ETF”.
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The SEC has postponed a possible decision on Franklin Templeton's ETF application to April 23. The SEC said it has extended the time to review a proposed rule change for the listing and trading of Franklin Ethereum Trust shares on the Cboe BZX exchange. The SEC now has until June 11, giving it an additional 45 days for a review.
Other industry giants such as BlackRock, Grayscale, VanEck and ARK Invest have entered the ether ETF race. However, the possibility of SEC approval separates Ethereum ETFs from the spot Bitcoin ETFs before they are approved in January.
In March, Bloomberg ETF analyst Eric Balchunas rated the probability of approval of the Ether ETF around May at 35%. In addition, the chairman of the SEC, Gary Gensler, mentioned that his position on Ether could influence the decision process, Gensler refused to explain that Ether is a security.
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