Franklin Templeton has filed with the U.S. Securities and Exchange Commission (SEC) for approval to open a inform ethereum alternate-traded fund (ETF). The submitting on Monday makes the asset manager with $1.5 trillion in assets under management basically the most stylish investment firm to glimpse approval for such funds.

The change corporations attempting to fetch approval for inform ETH ETFs comprise ARK 21 Shares, VanEck, Hashdex, Invesco, BlackRock, and Constancy, every of which first filed for approval final drop. Grayscale utilized to convert its Grayscale Ethereum Belief to a inform ETH ETF in October.

Seven of the eight corporations launched inform bitcoin ETFs on Jan. 11, 2024, the predominant day trading became once made that you just would possibly perchance perhaps well perhaps be take into accounts by the SEC’s lengthy-awaited approval the evening prior. Hashdex, which has a bitcoin futures ETF, did not salvage approval of its application to convert it to a inform bitcoin ETF. Franklin Templeton’s inform bitcoin ETF has been less winning than about a of the opposite sponsors, drawing in precisely $76 million as of Feb. 9.

Market watchers interrogate the success of the inform BTC ETFs as a full— higher than $1.1 billion salvage flowed into the 11 funds the week ending Feb. 9 — to ask interest in ETFs for inform ETH, the token of the Ethereum blockchain.

In accordance with the SEC’s unhurried approval of inform bitcoin ETFs on the final that you just would possibly perchance perhaps well perhaps be take into accounts date of the 240-day evaluate task, some analysts interrogate the SEC to approve such funds on May perhaps perchance well 23, 2024.

CORRECTION Feb. 13, 10:25 a.m.: Hashdex does not procedure a inform BTC ETF. The third paragraph became once corrected to replicate it operates a bitcoin futures ETF.