Franklin Ethereum Trust Files S-1/A for ETF
Ticker: EZET · Form: S-1/A · Filed: Jul 17, 2024 · CIK: 2011535
Sentiment: neutral
Topics: ETF, cryptocurrency, filing
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 17, 2024, for its proposed Franklin Ethereum ETF. This filing, with registration number 333-277008, details the trust's structure and operations as it seeks to offer shares to the public.
Why It Matters
This filing is a step towards the public offering of an Ethereum-based ETF, potentially impacting the accessibility and investment landscape for Ether.
Risk Assessment
Risk Level: medium — The filing pertains to a cryptocurrency-related financial product, which inherently carries risks associated with digital asset volatility and regulatory uncertainty.
Key Numbers
- 333-277008 — SEC File Number (Identifies the registration statement for the Franklin Ethereum ETF.)
Key Players & Entities
- Franklin Ethereum Trust (company) — Registrant
- Franklin Holdings, LLC (company) — Sponsor
- 333-277008 (dollar_amount) — SEC File Number
- July 17, 2024 (date) — Filing Date
- Navid J. Tofigh (person) — Legal Counsel
- Miranda Sturgis (person) — Legal Counsel
- J. Stephen Feinour, Jr. (person) — Legal Counsel
- Stradley Ronon Stevens & Young, LLP (company) — Legal Counsel
FAQ
What is the purpose of this S-1/A filing?
The S-1/A filing is an amendment to the registration statement for the Franklin Ethereum ETF, providing updated information for its public offering.
Who is sponsoring the Franklin Ethereum ETF?
Franklin Holdings, LLC is the sponsor of the Franklin Ethereum ETF.
When was this amendment filed with the SEC?
This amendment (Amendment No. 4) was filed with the SEC on July 17, 2024.
What is the primary jurisdiction of incorporation for the Franklin Ethereum Trust?
The Franklin Ethereum Trust is incorporated in Delaware.
What is the SEC file number associated with this registration?
The SEC file number is 333-277008.
Filing Stats: 4,718 words · 19 min read · ~16 pages · Grade level 14.3 · Accepted 2024-07-17 16:50:15
Key Financial Figures
- $3,403.11 — F Benchmarks Ltd., on July 15, 2024 was $3,403.11. Except when aggregated in Creation U
- $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 Sha
- $3,446.37 — d to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive o
- $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
- fets1a07172024.htm (S-1/A) — 1387KB
- ex11.htm (EX-99) — 11KB
- ex12.htm (EX-99) — 41KB
- ex51.htm (EX-99) — 8KB
- ex81.htm (EX-99) — 11KB
- ex231.htm (EX-99) — 2KB
- image00001.jpg (GRAPHIC) — 7KB
- image00007.jpg (GRAPHIC) — 10KB
- image00008.jpg (GRAPHIC) — 7KB
- filename11.htm (COVER) — 9KB
- 0001137439-24-001166.txt ( ) — 1504KB
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 [ ], 2024. Authorized Par