"Race for Ethereum ETF Approval Heats Up as Franklin Templeton Joins the Fray"

Franklin Templeton has filed for a spot ethereum exchange-traded fund (ETF), joining seven other providers in the race to introduce similar products. This move comes after the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs in January. The spot crypto ETF would track the market price of the underlying digital asset, providing investors with exposure to the token without needing to purchase it. Despite being a late entrant, Franklin Templeton is actively marketing its spot bitcoin ETF, while the SEC is yet to decide on applications from other firms like Grayscale Investments and BlackRock for similar products.