Franklin Templeton, an investment company with $1.5 trillion in assets under management, has formalized its interest in Ethereum for a while. The US-based company applied for a spot Ethereum ETF.

Consequently, eight different companies applied applications for the Ethereum ETF. BlackRock, Fidelity, ARK 21Shares, Grayscale, Invesco, VanEck, and Hashdex had applied before Franklin Templeton.

When will Ethereum ETF decisions be made?

After approving Bitcoin ETFs, it is believed that the US Securities and Exchange Commission (SEC) will approve Ethereum ETFs as well. It is expected that these applications will be accepted by May 23, 2024. Today is the last day of the evaluation process for VanEck company’s Ethereum ETF application.

According to Bloomberg ETF analysts, there is a 70% chance that Ethereum ETFs will be approved. However, Standard Chartered analysts in the United Kingdom also said they were waiting for approval. Analysts expected that Ether ETFs will be approved in the USA on May 23 in their research. Ether ETFs will be popular, just like Bitcoin ETFs were on January 10. “ETH price could reach $4,000 if Ether follows the path of Bitcoin,” they said.

ETH, the second largest cryptocurrency by market cap, is trading at $2,661 at now.