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 July 8, 2024, for its proposed Franklin Ethereum ETF. This filing, with registration number 333-277008, updates the initial registration statement to potentially launch an exchange-traded fund focused on Ethereum.

Why It Matters

This filing indicates a step towards the creation of a new investment vehicle for Ethereum, potentially increasing accessibility and institutional adoption of the cryptocurrency.

Risk Assessment

Risk Level: medium — The filing relates to a new cryptocurrency-backed ETF, which carries inherent risks associated with digital asset volatility and regulatory uncertainty.

Key Numbers

• 333-277008 — SEC Registration Number (Identifies the specific registration for the Franklin Ethereum ETF.)

Key Players & Entities

• Franklin Ethereum Trust (company) — Registrant
• Franklin Holdings, LLC (company) — Sponsor
• Franklin Ethereum ETF (company) — Proposed ETF
• 333-277008 (dollar_amount) — SEC Registration Number
• July 8, 2024 (date) — Filing Date

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 June 27 , 2024, the Initial Seed Sh
• $2,619,241.20 — he sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). As
• $500,000 — fees, license fees and expenses, up to $500,000 per annum in ordinary legal fees and ex

Filing Documents

• fets1a07082024.htm (S-1/A) — 1380KB
• image00007.jpg (GRAPHIC) — 10KB
• image00008.jpg (GRAPHIC) — 7KB
• filename5.htm (COVER) — 9KB
• 0001680359-24-000167.txt ( ) — 1415KB

USE OF PROCEEDS

USE OF PROCEEDS 79 OVERVIEW OF THE ETHEREUM INDUSTRY 80 BUSINESS OF THE FUND 93 DESCRIPTION OF THE SHARES AND THE TRUST 107 CREATIONS AND REDEMPTIONS 110 THE TRUSTEE 118 119 FISCAL YEAR 119 THE SECURITIES DEPOSITORY; BOOK-ENTRY-ONLY SYSTEM; GLOBAL SECURITY 119 THE SPONSOR 120 THE TRUSTEE 122 THE ADMINISTRATOR 123 THE CUSTODIANS 124 THE PRIME BROKER AND THE TRADE CREDIT LENDER 127 TRADING COUNTERPARTIES 132 THE MARKETING AGENT 134 U.S. FEDERAL INCOME TAX CONSEQUENCES 134 ERISA AND RELATED CONSIDERATIONS 140 SEED CAPITAL INVESTOR 140 PLAN OF DISTRIBUTION 141 CONFLICTS OF INTEREST 142 GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION 144 LEGAL MATTERS 144 EXPERTS 144 WHERE YOU CAN FIND MORE INFORMATION 144 GLOSSARY 145 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 153 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 [ ], 202

View Full Filing

View this S-1/A filing on SEC EDGAR