An Exciting Prospect: Franklin’s Spot Ethereum ETF Emerges
After the recent approval of spot Bitcoin ETFs on January 10, the market experienced some initial fluctuations and a surge in Bitcoin prices as the highly anticipated halving event drew near. The impact of ETFs on this process had been a subject of discussion for quite some time. However, once the Bitcoin ETFs were out of the way, attention quickly shifted towards Ethereum, with numerous companies submitting applications for similar products.
It has now come to light that a Spot Ethereum ETF, owned by Franklin, has been added to the US DTCC website, causing a stir among cryptocurrency enthusiasts who were quick to discover this exciting development. Although details are currently scarce, investors who spotted the listing on platforms like X have wasted no time in sharing their excitement. The ETF, listed under the ticker EZET, has already sparked curiosity about what lies ahead.
Following the Bitcoin ETF, there was a significant level of uncertainty surrounding Ethereum due to recent actions taken by the SEC. The regulatory body had launched a campaign to classify ETH as a security, but it seems that the process is not progressing as the agency had initially hoped.
With this exciting news, all eyes turned to the Ethereum price, which unfortunately did not live up to the anticipated excitement. Despite expectations of a rise following the announcement, Ethereum seemed to have a rather negative outlook. As of the time of writing, the price of ETH had experienced a 1% drop, settling at $3,130. This decline also affected the market cap, which fell to $382 billion.
Furthermore, the 24-hour trading volume did not show promising figures either. After experiencing a drop of over 20%, the volume stood at $10.6 billion, making Ethereum the third most traded cryptocurrency in the last 24 hours.
However, recent statements from a major bank expressing decreased confidence in the approval of an ETF in May may reignite excitement and potentially have a positive impact on ETH prices in the days to come.
Disclaimer: The information contained in this article should not be considered as investment advice. Investors need to be aware of the high volatility and associated risks of cryptocurrencies and should conduct thorough research on their own.
