Demex Daily #88: Franklin Templeton Eyes Ethereum ETF Amid Expanding Crypto Endeavors and Mixed SEC Outlook

What’s Interesting Today:

Franklin Templeton has entered the competition for an Ethereum ETF with a recent filing to the SEC, despite not achieving the same level of success as leaders BlackRock and Fidelity in its previous bitcoin ETF venture. The firm is part of a growing list of applicants for Ethereum ETFs, including major names in the financial industry. Following its bitcoin ETF launch, which saw modest inflows, Franklin Templeton is making strides in embracing the crypto market, highlighted by adopting crypto-themed imagery on its social media. The SEC's decision on Ethereum ETFs remains pending, with mixed predictions on the outcome. In the meantime, ether and bitcoin prices have experienced notable rises.


The DN-404 token standard, aimed at refining the ERC-404 standard with built-in native fractionalization for NFTs, has been launched by Ethereum developers. This new standard seeks to address ERC-404's limitations by enabling users to trade fractions of NFTs directly on decentralized exchanges (DEXs) like Uniswap, using a dual-contract system of a base ERC-20 token and a mirror ERC-721 NFT. The introduction of DN-404 promises enhanced liquidity and immediate trading capabilities for NFT projects. However, the developers have cautioned that the code is not yet audited, and there are no tokens currently associated with this experimental standard, despite the recent surge in interest for ERC-404 tokens.