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Post: Franklin Templeton Seeks Approval for Ether ETF with Staking; Bakkt Granted Approval for Capital Raise

Franklin Templeton Seeks Approval for Ether ETF with Staking; Bakkt Granted Approval for Capital Raise

Key Points:

  • Franklin Templeton has filed for approval to launch a spot Ether exchange-traded fund (ETF) that incorporates staking.
  • Final decisions on ETF approvals from companies like BlackRock, VanEck, and Grayscale are expected between May and August.
  • Bakkt, a subsidiary of Intercontinental Exchange (ICE), has been granted approval to raise capital by issuing more shares over the next three years.

Franklin Templeton Seeks Approval for Ether ETF with Staking

Franklin Templeton, a trillion-dollar asset manager, is looking to join the Ether ETF race by filing for approval to launch its own spot Ether ETF. The company aims to incorporate staking into its ETF to generate additional income. The approval process will involve competition with other companies like BlackRock, VanEck, Fidelity, and Grayscale, with final decisions expected to be made between May and August.

Bakkt Granted Approval for Capital Raise

Bakkt, a subsidiary of Intercontinental Exchange (ICE), has been granted approval to raise capital by issuing more shares over the next three years. This decision was made in response to the company’s low cash reserves. Bakkt focuses on providing cryptocurrency custody and trading services, and this approval will allow it to raise funds to support its operations and growth.

Hot Take:

The entrance of Franklin Templeton into the Ether ETF race demonstrates the growing interest and demand for cryptocurrency investment products. The incorporation of staking in the ETF indicates a desire to provide additional income streams for investors in the rapidly evolving crypto market. Bakkt’s approval to raise capital highlights the importance of financial backing in the competitive crypto industry, as companies strive to expand and maintain their operations amidst market fluctuations.

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