{"id":246406,"date":"2024-02-13T12:58:06","date_gmt":"2024-02-13T07:28:06","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=246406"},"modified":"2024-02-13T12:58:06","modified_gmt":"2024-02-13T07:28:06","slug":"kraken-eyes-to-enter-etf-custody-race-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/kraken-eyes-to-enter-etf-custody-race-crypto-news\/","title":{"rendered":"Kraken Eyes To Enter ETF Custody Race – Crypto News"},"content":{"rendered":"

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After the Spot Bitcoin ETF<\/a> race, the spree for Spot Ethereum ETFs is on. Amid the Ether ETF anticipation, it has been revealed that Kraken, the second-largest crypto exchange in the U.S., is eyeing to enter the crypto ETF custodian frenzy by following Coinbase\u2019s lead.<\/p>\n

Kraken To Enter Crypto ETF Custody Arena?<\/h2>\n

Currently, Coinbase<\/a> serves as the custodian for eight out of the 11 Spot Bitcoin ETFs approved on January 10 this year. Kraken is hoping to mirror this approach and grab a significant share in the crypto ETF domain, according to a scoop by Fox Journalist Eleanor Terrett. Terrett recently took to X to unravel the latest development.<\/p>\n

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Moreover, Kraken seemed to have supported her claims as their official X account commented on her post with a purple heart. Since the Bitcoin ETF phase is over, Kraken might try taking over the custodian role for Spot Ethereum ETFs<\/a> after the highly-anticipated May approval. Furthermore, it will position Kraken stronger in the crypto exchange domain.<\/p>\n

This would directly pit Kraken against Coinbase in the crypto ETF custody game. Moreover, though Coinbase has acquired the custodian position for most of the Bitcoin ETFs, it doesn\u2019t mean that it\u2019ll give up on the Spot Ether ETF race. Furthermore, Kraken is poised for severe competition as Coinbase has already partnered with major crypto ETF players like BlackRock, Grayscale, and Franklin Templeton, which have applied for the Spot Ethereum ETF approval.<\/p>\n

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Also Read: Binance CEO Richard Teng Remains Bullish On Bitcoin, Ethereum, & BNB<\/a><\/strong><\/p>\n

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Franklin Templeton Enters Spot Ethereum ETF Race<\/h2>\n

Global asset management firm Franklin Templeton<\/a> has filed for a Spot Ethereum ETF to provide investors with easier access to the second-largest crypto. Joining the ranks of financial behemoths like Ark 21Shares and BlackRock, Franklin Templeton\u2019s move reflects a growing acceptance of cryptocurrencies in traditional finance.<\/p>\n

The filing<\/a> signals the firm\u2019s strategy to offer an investment option for direct Ethereum investments but without the complexities of digital asset handling. This approach not only saves time but also fosters transparency. Moreover, it integrates digital assets into traditional investment portfolios, enhancing accessibility and popularity.<\/p>\n

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Notably, Franklin Templeton\u2019s proposed Spot Ethereum ETF includes the staking option, allowing the fund to earn rewards by participating in ETH\u2019s consensus mechanism. This innovative feature bridges traditional financial instruments with Ethereum\u2019s transactional characteristics. It sets Franklin Templeton apart from its competitors.<\/p>\n

Also Read: Franklin Templeton Joins Ark, BlackRock in Spot Ether ETF Pursuit<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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After the Spot Bitcoin ETF race, the spree for Spot Ethereum ETFs is on. Amid the Ether ETF anticipation, it has been revealed that Kraken, the second-largest crypto exchange in the U.S., is eyeing to enter the crypto ETF custodian frenzy by following Coinbase\u2019s lead. Kraken To Enter Crypto ETF Custody Arena? Currently, Coinbase serves […]<\/p>\n","protected":false},"author":2,"featured_media":246407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-246406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=246406"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246406\/revisions"}],"predecessor-version":[{"id":246409,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246406\/revisions\/246409"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/246407"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=246406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=246406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=246406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}