On January 10th, Bitcoin ETFs received approval, causing initial market fluctuations and a surge in Bitcoin prices as the halving event drew near. The impact of ETFs on this process had been a topic of discussion for a while. After the Bitcoin ETFs, attention shifted to Ethereum, with numerous companies applying for similar products.
Is a Franklin Spot Bitcoin ETF Coming?
Recent news has revealed that a Spot Ethereum ETF owned by Franklin has been added to the US DTCC website, which was quickly discovered by cryptocurrency enthusiasts.
Although details are limited, investors who saw the listing on platforms like X began sharing their excitement. The ETF, listed under the ticker EZET, has already sparked curiosity about what lies ahead.
After the Bitcoin ETF, there was significant uncertainty surrounding Ethereum due to recent actions by the SEC. The SEC had been campaigning to classify ETH as a security, but it seems that the process is not going as the agency had hoped.
Following this exciting news, all eyes turned to the Ethereum price, which unfortunately did not live up to the expected excitement.
How Much is Ethereum Now?
Despite expectations of a rise following the news, Ethereum seemed to have a negative outlook. At the time of writing, the ETH price had dropped by 1% to $3,130, causing the market cap to fall to $382 billion.
Additionally, the 24-hour trading volume did not look promising either. After a drop of over 20%, the volume stood at $10.6 billion, making it the third most traded cryptocurrency in the last 24 hours.
Recent statements from a major bank expressing decreasing confidence in an ETF approval in May could reignite excitement and potentially have a positive impact on ETH prices in the coming days.
Disclaimer:
The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
