The Crypto Roundup: 13 February 2024 | CryptoCompare.com

Global investment manager Franklin Templeton, with $1.5 trillion worth of assets under management, has joined the race among Wall Street firms to launch a spot Ether exchange-traded fund (ETF) in the United States.

The firm filed its application with the U.S. Securities Exchange Commission, aiming to list the “Franklin Ethereum ETF” on the Chicago Board Options Exchange. In an innovative move, Franklin Templeton plans to stake a portion of the ETF’s Ether holdings to generate additional income, echoing a strategy recently adopted by ARK 21Shares.

By staking Ether from cold storage wallets, the ETF expects to earn staking rewards, which would be treated as income. The filing reads that it may “from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers.”

Franklin Templeton faces competition from several other firms seeking SEC approval for their own spot Ether ETFs, including BlackRock, VanEck, Fidelity, Invesco Galaxy, Grayscale, and Hashdex.

The SEC has a series of deadlines to decide on these applications, with VanEck’s deadline falling on May 23, ARK 21Shares on May 24, Hashdex by May 30, Grayscale by June 18, Invesco by July 5, and both Fidelity and BlackRock by early August.

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• Source: https://www.cryptocompare.com/email-updates/daily/2024/feb/13/