Ethereum
ETF Heavyweight Franklin Templeton Unveils Bullish Report on Ethereum
Vladislav Sopov
In its latest report, a $1.65 trillion asset manager explains what Ethereum (ETH) has changed in application development, money transfer and the global economy
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Franklin Templeton, a veteran wealth manager with over $1.65 trillion in assets under management, shares his optimistic view on Ethereum (ETH) as a technological development and economic instrument. Despite fierce competition, Ethereum (ETH) remains the backbone of the decentralized economy and is constantly opening up new opportunities for the community.
“At the forefront of Web3 innovation”: Franklin Templeton praises Ethereum
Global asset management heavyweight Franklin Templeton has released its report “Understanding the Value of The Ethereum Network” which covers the technological impact of the second-largest cryptocurrency. It presents the most important features of the Ethereum (ETH) blockchain, its challenges and opportunities.
Image of Franklin Templeton
Analysts at the investment giant noted that Ethereum has advanced Bitcoin’s achievements in creating a robust and accessible technological foundation for distributed ledger applications, enabling a complete decentralized economy.
The next step, the advent of the Ethereum Virtual Machine (EVM) and its Solidity smart contracts, was a game changer in application development, making Ethereum the foundation for a wide range of decentralized applications across various B2B and B2C segments.
The report particularly highlights the evolving role of Layer 2 networks in pushing the barriers of performance metrics and the decentralization status of Ethereum (ETH):
Collectively, L1 (Ethereum and others) and L2 blockchains form the foundation of “Web3,” the new iteration of the World Wide Web (WWW) that allows users to own the WWW. The Web3 business models that have emerged are paving the way for a new type of network economy and a new approach to business transactions, creating a protocol-based economy that encourages democratized ownership and rewards participation.
As a result, Ethereum (ETH) has managed to establish a vibrant and diverse protocol economy with a wide range of new use cases in DeFi, GameFi, NFT, metaverse, and other trending segments.
Ethereum ETF: Final decision?
The authors concluded that Ethereum (ETH) stands out for its unique combination of a native peer-to-peer payment network, a common development toolkit, and a virtual machine for executing smart contracts that has set a new standard for blockchain technology.
It is worth adding that Franklin Templeton is participating in the Ethereum spot ETF race in the United States. It has filed an application for ETF approval with the SEC in February 2024.
As previously reported by U.Today, leading analysts and community participants are confident that Ethereum spot ETFs will get the green light as early as this month.
Final approval of the S-1 forms is expected by July 12, said Nate Geraci, president of The ETF Store. That potentially opens the door to ETF trading launching after July 15.
About the Author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. 6+ years in computer analysis, 3+ years in blockchain.
I have worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)