On January 10, the approval of spot Bitcoin ETFs caused initial market fluctuations and a surge in Bitcoin prices as the halving event approached. 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?
There is recent news that a Franklin-owned Spot Ethereum ETF has been added to the US DTCC website, quickly discovered by cryptocurrency enthusiasts.
Although details are scarce, investors who saw the listing on platforms like X began sharing their excitement. The ETF, listed as EZET, has already piqued curiosity about what lies ahead.
Following 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 the process does not seem to be going as the agency had hoped.
After the thrilling news, all eyes turned to the Ethereum price, which did not live up to the expected excitement.
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, impacting the market cap, which fell to $382 billion.
Furthermore, the 24-hour trading volume was not promising either. After dropping by 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 a decrease in confidence regarding 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 that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
