Franklin Templeton recently launched its Ethereum ETF, known as EZET, with the listing appearing on the DTCC website. This development has sparked anticipation among Ethereum (ETH) holders for the approval of the Spot Ethereum ETF by the US Securities and Exchange Commission (SEC).
The DTCC listing of Franklin Templeton’s Ethereum ETF indicates that it is available for creation and redemption, but it does not guarantee approval of the S-1 filing by the SEC. The firm submitted its Spot ETH ETF application on February 12, and the SEC has postponed its decision on the application until June 11, giving them an additional 45 days to review.
Listing on the DTCC website is an important step in the ETF process as it allows for supply adjustments to meet market demand and helps maintain the ETF’s market price close to its net asset value (NAV). Bloomberg ETF analyst Eric Balchunas has stated that the chances of SEC approval for the Ethereum ETF are currently at 35%.
At the time of writing, the price of ETH stands at $3,125, showing a decrease of nearly 3% from Monday’s closing price. Investors continue to monitor the progress of Franklin Templeton’s Ethereum ETF application as they anticipate the SEC’s final decision.