Major asset manager Franklin Templeton has filed for a spot in the Ethereum">Ethereum exchange-traded fund (ETF), seeking approval from the Securities and Exchange Commission (SEC). Franklin Templeton joins a crowded field of applicants, including BlackRock, Ark Invest, VanEck, Galaxy, and others, aiming to launch crypto investment funds as demand grows.
Franklin Templeton remains confident despite limited success so far with its spot Bitcoin">Bitcoin ETF approved in January. Overall, Bitcoin spot ETFs have seen $2.8 billion in inflows since launching. However, Ethereum network activity has surged lately, too, with gas fees spiking to levels not seen since last March, driven by interest in a new experimental token standard.
As major financial players race to offer crypto investment vehicles to clients, SEC approval remains the key hurdle. Franklin Templeton is optimistic the regulatory environment is warming up to crypto, making way for a potential wave of Ethereum and altcoin funds alongside Bitcoin. More access points would feed rising institutional demand.
