Franklin Ethereum Trust Files S-1/A Amendment
Ticker: EZET · Form: S-1/A · Filed: May 31, 2024 · CIK: 2011535
Sentiment: neutral
Topics: crypto, etf, sec-filing
TL;DR
Franklin Ethereum Trust filed an S-1/A, paving the way for a new ETH ETF.
AI Summary
Franklin Ethereum Trust, sponsored by Franklin Holdings, LLC, filed an S-1/A amendment on May 31, 2024, for its Franklin Ethereum ETF. The filing, with registration number 333-277008, details the trust's structure and operations as a Delaware-incorporated entity. The principal executive offices are located at One Franklin Parkway, San Mateo, CA.
Why It Matters
This filing is a step towards the potential launch of a new Ethereum-based ETF, which could impact the accessibility and investment landscape for Ether.
Risk Assessment
Risk Level: medium — The filing relates to a cryptocurrency-backed ETF, which carries inherent volatility and regulatory risks associated with digital assets.
Key Numbers
- 333-277008 — SEC Registration Number (Identifies the specific registration for the Franklin Ethereum Trust.)
- May 31, 2024 — Filing Date (The date this amendment to the S-1 registration statement was filed.)
Key Players & Entities
- Franklin Ethereum Trust (company) — Registrant
- Franklin Holdings, LLC (company) — Sponsor
- Franklin Ethereum ETF (company) — ETF Name
- 333-277008 (dollar_amount) — SEC Registration Number
- May 31, 2024 (date) — Filing Date
- One Franklin Parkway, San Mateo, CA (company) — Principal Executive Offices
FAQ
What is the purpose of this S-1/A filing?
This S-1/A filing is an amendment to the registration statement for the Franklin Ethereum ETF, a series of Franklin Ethereum Trust, providing updated information to the SEC.
Who is the sponsor of the Franklin Ethereum ETF?
The Franklin Ethereum ETF is sponsored by Franklin Holdings, LLC.
What is the SEC registration number for this filing?
The SEC registration number is 333-277008.
Where are the principal executive offices of the Registrant located?
The principal executive offices of the Registrant, Franklin Ethereum Trust, are located at One Franklin Parkway, San Mateo, CA 94403-1906.
When was this amendment filed with the SEC?
This amendment (Amendment No. 1) was filed with the Securities and Exchange Commission on May 31, 2024.
Filing Stats: 4,739 words · 19 min read · ~16 pages · Grade level 14 · Accepted 2024-05-31 14:06:58
Key Financial Figures
- $25.00 — 00 Shares at a per-Share price equal to $25.00 (the "Initial Seed Shares"). Delivery o
- $100,000 — he sale of the Initial Seed Shares were $100,000. On [ ], 2024, the Initial Seed Shares
- $500,000 — fees, license fees and expenses, up to $500,000 per annum in ordinary legal fees and ex
Filing Documents
- fets1a05312024.htm (S-1/A) — 1226KB
- ex9911.htm (EX-99) — 11KB
- ex9941.htm (EX-99) — 164KB
- ex9942.htm (EX-99) — 118KB
- ex9951.htm (EX-99) — 8KB
- ex9981.htm (EX-99) — 12KB
- ex99101.htm (EX-99) — 226KB
- ex99102.htm (EX-99) — 69KB
- ex99104.htm (EX-99) — 154KB
- ex99105.htm (EX-99) — 141KB
- ex99106.htm (EX-99) — 95KB
- ex99107.htm (EX-99) — 27KB
- ex99231.htm (EX-99) — 2KB
- image0.jpg (GRAPHIC) — 129KB
- image00001.jpg (GRAPHIC) — 62KB
- image1.jpg (GRAPHIC) — 335KB
- image00002.jpg (GRAPHIC) — 445KB
- image00003.jpg (GRAPHIC) — 274KB
- filename20.htm (COVER) — 6KB
- 0001137439-24-001040.txt ( ) — 3975KB
USE OF PROCEEDS
USE OF PROCEEDS 77 OVERVIEW OF THE ETHEREUM INDUSTRY 78 BUSINESS OF THE FUND 90 DESCRIPTION OF THE SHARES AND THE TRUST 102 THE SECURITIES DEPOSITORY; BOOK-ENTRY-ONLY SYSTEM; GLOBAL SECURITY 114 THE SPONSOR 115 THE TRUSTEE 117 THE ADMINISTRATOR 119 THE CUSTODIANS 119 THE PRIME BROKER AND THE TRADE CREDIT LENDER 122 U.S. FEDERAL INCOME TAX CONSEQUENCES 130 ERISA AND RELATED CONSIDERATIONS 136 SEED CAPITAL INVESTOR 137 PLAN OF DISTRIBUTION 137 CONFLICTS OF INTEREST 138 GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION 140 LEGAL MATTERS 140 EXPERTS 140 WHERE YOU CAN FIND MORE INFORMATION 140 GLOSSARY 141 iv This prospectus contains information you should consider when making an investment decision about the Shares. You may rely on the information contained in this prospectus. Neither the Trust, on behalf of the Fund, nor the Sponsor has authorized any person to provide you with different information and, if anyone provides you with different or inconsistent information, you should not rely on it. You should assume that the information appearing in this prospectus is accurate only as of the date on the front cover of this prospectus. This prospectus is not an offer to sell the Shares in any jurisdiction where the offer or sale of the Shares is not permitted. Until [ ], 2024 (25 days after the date of this prospectus), all dealers effecting transactions in the Shares, whether or not participating in this distribution, may be required to deliver a prospectus. This requirement is in addition to the obligations of dealers to deliver a prospectus when acting as underwriters and with respect to unsold allotments or subscriptions. The Sponsor first intends to use this prospectus on [ ], 2024. Authorized Participants may be required to deliver a prospectus when making transactions in the Shares. See "Plan of Distribution." This prospectus includes statements which relate to future events