Franklin Templeton, a major player in the financial services industry, has officially listed its new Ethereum (ETH) exchange-traded fund (ETF) on the Depository Trust and Clearing Corporation (DTCC). The DTCC, founded in 1999, is a prominent post-trade financial services firm that offers clearing and settlement services for various markets. It regularly updates its website with eligible securities, including ETFs that have undergone the necessary approval process. However, it is important to note that being listed on the DTCC does not guarantee regulatory approval for the ETF.
In recent months, Franklin Templeton, along with other firms such as BlackRock, Hashdex, Bitwise, and ARK Invest, has applied to the U.S. Securities and Exchange Commission (SEC) to establish spot market ETH-based ETFs. However, the SEC announced in March that it required more time to consider the matter and postponed its decision until the end of May.
Bloomberg ETF analyst Eric Balchunas expressed doubts about the likelihood of the SEC approving a spot market ETH ETF. He noted that the SEC has not provided any comments to the issuers, which is unusual as they typically ask for clarifications or additional information before making a decision. Balchunas suggested that the SEC may have intentionally chosen not to comment on the matter.
It is worth mentioning that Franklin Templeton and other firms had their applications for spot market Bitcoin (BTC) ETFs approved by the SEC in January. Following this approval, Franklin Templeton CEO Jenny Johnson emphasized that Bitcoin is just one of many opportunities available in the digital assets space.
As the SEC’s decision deadline approaches, the financial industry eagerly awaits the outcome. In the meantime, investors are advised to conduct thorough research and exercise caution when engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. The Daily Hodl, where this article is published, reminds readers that it does not offer investment advice and encourages individuals to take responsibility for their own transfers and trades.
