Key info:
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Franklin Templeton manages property of $1.6 trillion.
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The worth of ether (ETH) rose 7% within the final day, pushed by bitcoin and your entire market.
The monetary asset administration firm, Franklin Templeton, joins the race for an ether (ETH) spot ETF, the native cryptocurrency of the Ethereum community. Yesterday, February 12, 2024, it filed an utility for authorization with the US Securities and Alternate Fee (SEC).
The ETF, in response to the doc, can be referred to as โFranklin Ethereum ETFโ. Its not but outlined ticker (identification code) that’s assigned solely at a later stage.
With this, There are already 9 functions submitted to the SEC to launch ether ETFs. Thus far, the regulatory physique has delayed making a choice, in a course of that’s fairly much like what was skilled earlier than the authorization of the primary bitcoin ETFs.
The truth that the SEC doesn’t reject the functions, however merely delays making a choice may be seen as a optimistic signal. Possibly you are going to do a mass approval (in order to not profit any explicit firm) nearer to The deadline to determine on one in every of these requests, which is Could 23.
In the meantime, ETH worth has risen greater than 7% within the final 24 hours. However, the bullish driver doesn’t appear to have been the information from Franklin Templeton, however quite the final rise within the cryptocurrency market led by bitcoin (BTC), which, as CriptoNoticias reported yesterday, is positioned above $50,000.
