Franklin Templeton, an asset management firm, has submitted a filing for a spot Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC).
Ethereum’s price has been speculated as been “undervalued” for quite some time, however, this week, it has experienced a price surge, which investors believe may rise even further given the news of Franklin Templeton coming into play.
At the time of publication, Ethereum’s price is $2,669.
On January 9, BeInCrypto reiterated crypto investor “DCInvestor” belief that Ethereum “will do better and retain more value after this cycle than the vast majority of assets.”
“IMO it’s insanely undervalued at the moment.”
Spot Ethereum ETF: A Talking Point for the Industry
Meanwhile, BlackRock CEO Larry Fink recently expressed a keen interest in an Ethereum ETF.
Fink expressed optimism for a potential Ethereum ETF. This is driven by his belief in its potential to catalyze broader adoption of real-world asset tokenization. This is a trend he anticipates with enthusiasm for the future.
“I see value in having an Ethereum ETF. These are just stepping stones towards tokenization and I really do believe this is where we’re going to be going.”
All the hype around Ethereum has led to crypto analysts wondering whether Ethereum will reach $25,000 in the near future.
Dad, a crypto analyst, attributes Ethereum’s potential to reach that level to its onboarding funnel and the layer-2 solutions currently under development on the network.
““Going to be hard to compete with the Ethereum onboarding funnel – Gaming L2s (, Ronin) – Corporate L2s (Base, Worldcoin) – Social L2s (, Farcaster) – All of the other (hundreds?) of L2s spitting out tokens to acquire users.”
