On January 10, spot Bitcoin ETFs were approved, leading to initial market fluctuations and a surge in Bitcoin prices as the halving event approached. The impact of ETFs on this process was a topic of discussion for a long time. After the Bitcoin ETFs, attention turned to Ethereum, with many companies applying for similar products.
Is a Franklin Spot Bitcoin ETF Coming?
Recent news revealed that a Franklin-owned Spot Ethereum ETF was added to the US DTCC website, quickly discovered by cryptocurrency enthusiasts.
While details are scarce, 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 will happen next.
Following the Bitcoin ETF, there was significant uncertainty around Ethereum due to recent SEC actions. The SEC had recently campaigned to classify ETH as a security, but the process does not seem to be going as the agency had hoped.
After the exciting news, all eyes turned to the Ethereum price, which did not seem to live up to the excitement expected.
How Much is Ethereum Now?
Despite expectations of a rise following the news, Ethereum appeared to have a negative outlook. At the time of writing, the ETH price had dropped by 1% to $3,130, affecting the market cap, which fell to $382 billion.
Additionally, the 24-hour trading volume was not promising either. Following 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 about decreasing confidence in an ETF approval in May could reignite excitement and potentially have a positive impact on ETH prices in the coming days.
