Franklin Ethereum Trust Files S-1/A for ETF

TL;DR

Franklin Ethereum Trust filed S-1/A for its ETF. Get ready for more ETH exposure.

AI Summary

Franklin Ethereum Trust, sponsored by Franklin Holdings, LLC, filed an S-1/A amendment on June 21, 2024, for its Franklin Ethereum ETF. This filing, with registration number 333-277008, details the trust's structure and operations as it seeks to offer shares related to Ethereum. 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 investment product focused on Ethereum, which could impact the accessibility and investment landscape for the cryptocurrency.

Risk Assessment

Risk Level: medium — The filing pertains to a cryptocurrency-related ETF, which inherently carries risks associated with digital asset volatility and regulatory uncertainty.

Key Numbers

• 333-277008 — SEC File Number (Identifies this specific registration filing)
• June 21, 2024 — Filing Date (Date the amendment was submitted to the SEC)

Key Players & Entities

• Franklin Ethereum Trust (company) — Registrant
• Franklin Holdings, LLC (company) — Sponsor
• Franklin Ethereum ETF (company) — ETF Name
• 333-277008 (dollar_amount) — SEC File Number
• June 21, 2024 (date) — Filing Date
• One Franklin Parkway, San Mateo, CA (company) — Principal Executive Offices

FAQ

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

• fets1a06212024.htm (S-1/A) — 1370KB
• ex99102.htm (EX-99) — 91KB
• ex99231.htm (EX-99) — 3KB
• image00007.jpg (GRAPHIC) — 10KB
• image00008.jpg (GRAPHIC) — 7KB
• filename7.htm (COVER) — 9KB
• 0001680359-24-000151.txt ( ) — 1499KB

USE OF PROCEEDS

USE OF PROCEEDS 79 OVERVIEW OF THE ETHEREUM INDUSTRY 79 BUSINESS OF THE FUND 93 DESCRIPTION OF THE SHARES AND THE TRUST 106 CREATIONS AND REDEMPTIONS 109 THE TRUSTEE 117 118 FISCAL YEAR 118 THE SECURITIES DEPOSITORY; BOOK-ENTRY-ONLY SYSTEM; GLOBAL SECURITY 118 THE SPONSOR 119 THE TRUSTEE 121 THE ADMINISTRATOR 122 THE CUSTODIANS 123 THE PRIME BROKER AND THE TRADE CREDIT LENDER 126 TRADING COUNTERPARTIES 131 THE MARKETING AGENT 133 U.S. FEDERAL INCOME TAX CONSEQUENCES 133 ERISA AND RELATED CONSIDERATIONS 139 SEED CAPITAL INVESTOR 139 PLAN OF DISTRIBUTION 140 CONFLICTS OF INTEREST 141 GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION 143 LEGAL MATTERS 143 EXPERTS 143 WHERE YOU CAN FIND MORE INFORMATION 143 GLOSSARY 144 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 152 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 [

View Full Filing

View this S-1/A filing on SEC EDGAR