Asset management firm Franklin Templeton has listed its spot Ether exchange-traded fund (ETF), the Franklin Ethereum TR Ethereum ETF (EZET), on the website of the Depository Trust and Clearing Corporation (DTCC), a major platform for securities transactions in the United States. .
The “Create/Redeem” column on the DTCC website lists the ETF, indicating its availability for creation and redemption. The listing of the Franklin Templeton Ethereum Spot ETF on the DTCC website does not mean that the Franklin Ether Spot ETF's application to the United States Securities and Exchange Commission (SEC) will be approved.
The DTCC website often lists securities eligible for trading and settlement within its systems, including ETFs that have completed particular registration or compliance processes. However, the approval status of an ETF filing is determined by the SEC based on various regulatory criteria and considerations.
The $1.5 trillion asset management company filed its S-1 form with the SEC on February 12 to apply for an Ether (ETH) spot ETF. If approved, the ETF would be listed as “Franklin Ethereum ETF” on the Chicago Board Options Exchange.
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The SEC postponed a possible decision on Franklin Templeton's ETF application on April 23. The SEC said it extended the timeline for reviewing the proposed rule change for the listing and trading of Franklin Ethereum Trust shares on the Cboe BZX Exchange. The SEC now has until June 11 and provides an additional 45 days for evaluation.
Other industry giants like BlackRock, Grayscale, VanEck, and ARK Invest have also entered the Ether ETF spot race. However, the likelihood of the SEC approving Ethereum spot ETFs differs from that of Bitcoin spot ETFs prior to their approval in January.
In March, Bloomberg ETF analyst Eric Balchunas estimated the chances of the SEC approving an Ether spot ETF in May at around 35%, citing the regulator's less compromised stance than during the ETF application process. of Bitcoin. He also mentioned that SEC Chairman Gary Gensler's stance on Ether could affect the decision process, and Gensler declines to clarify whether Ether is a security.
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