Kategorie: Crypto News

• Franklin Templeton has said that Solana has shown “major adoption and continues to mature”
• The asset manager launched its second digital asset-backed ETF, the Franklin Ethereum ETF (EZET)
• Franklin Templeton has agreed to fully waive its fees until January 2025 for the first $10bn in fund assets

Franklin Templeton has indicated it’s confident in the development of crypto exchange-traded funds (ETFs) claiming “there are other exciting and major developments” that will drive the crypto industry forward.

In a post of X, the asset manager wrote: “Besides Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward.”

Showing enthusiasm for a Solana ETF, Franklin Templeton added:

“Solana has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architectures.”

Ethereum ETF Launch

The announcement from Franklin Templeton comes after the asset manager launched its second digital asset-backed ETF, the Franklin Ethereum ETF (EZET), which is available on the Chicago Board Options Exchange (Cboe).

Speaking of the launch, Patrick O’Connor, head of Global ETFs for Franklin Templeton, said: “After the success of our spot bitcoin ETF (EZBC) launch in January, we are proud to add EZET to our growing lineup of digital asset ETFs.”

O’Connor added that the company was “thrilled” to provide its clients more access to the digital asset industry in a “regulated fund structure that integrates seamlessly into traditional portfolios.”

As part of its launch, Franklin Templeton has agreed to fully waive fees until January 2025 for the first $10bn in fund assets.

Earlier this week, Cboe announced listing five ether ETFs following the US Securities and Exchange Commission’s (SEC) approval. Franklin Templeton was one of those, the others are 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, and VanEck Ethereum ETF.

Data shows that investors traded over $1bn worth of shares from the ether ETF issuers on the first day of availability, with a net inflow of $106.7m.

Solana ETFs

In July, Cboe also submitted two applications to list spot Solana ETFs on its platform: 21Shares and VanEck. Filing two 19b-4 form applications on July 8, the SEC has until March 2025 to make a decision.

According to the Cboe, a potential Solana ETF is similar to spot Bitcoin and spot Ethereum funds, adding “much like bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that “other means to prevent fraudulent and manipulative acts and practices” exist to justify dispensing with the requisite surveillance sharing agreement.”

The post Franklin Templeton Endorses Solana Following Launch of its Ethereum ETF appeared first on CoinJournal.

• Ferrari is to accept crypto payments in Europe by the end of July
• The luxury sports car company wants to extend the scheme to other dealers by the end of 2024
• The move follows the successful launch of Ferrari’s crypto payment scheme in the US last October

Ferrari is to extend its scheme to accept cryptocurrency payments in Europe by the end of July, Reuters reported Wednesday.

The Italian-based luxury car company also plans to extend its service to other dealers by the end of 2024. Last October, Ferrari started accepting crypto payments in the US for its high-end cars, in partnership with BitPay, a crypto payment processor.

At the time, it was reported that payment was accepted in Bitcoin, Ether, and USD Coin. The move came after a surge in market demand and repeated requests from their dealers.

“The entry into the European market follows the successful launch of this alternative payment system in the United States less than a year ago, to support dealers in better addressing the evolving needs of its clients,” Ferrari said.

Protecting Ferrari’s dealers from crypto price swings, BitPay will switch the crypto into traditional fiat, excluding fees or surcharges from clients.

Companies Accepting Crypto

With market prices continuing to rise and as a popular form of investment it seems like a natural step for major companies to accept crypto payments.

However, despite this, high energy use and unclear regulation are preventing crypto payments being widely accepted, particularly with major companies.

In 2021, for instance, Tesla began accepting Bitcoin payments for its electric cars; however, CEO Elon Musk suspended crypto payments due to the use of fossil fuels connected to Bitcoin mining.

Despite this, there are some who are embracing crypto payments, hoping to make it more mainstream.

In April, Crypto.com and Adelaide Oval, one of the top sporting grounds in Australia, teamed up to bring the first-ever crypto payments at a major stadium in Australia. The collaboration sees sports fans and concert-goers in the country pay with crypto for food and drinks at outlets in the stadium.

In 2022, fashion brand Balenciaga followed in the footsteps of Gucci when it started accepting payment in cryptocurrency.

The post Ferrari to Extend Crypto Payment Scheme to Europe Following US Launch appeared first on CoinJournal.

• Ferrari has announced it will begin to accept crypto payments for its luxury sports cars in Europe.
• The expansion starts from the end of July, with this coming after the Italian car maker launched its crypto payment scheme in the United States.

Ferrari will accept crypto for its luxury sports cars from customers in Europe from the end of July, the Italian car maker announced on Wednesday.

According to a report by Reuters, Ferrari is expanding its cryptocurrency payments system to European dealers of its cars, adding the new market to its presence in the United States. Other than Europe, the luxury sports car maker will look to bring the crypto payments system to its other dealer networks across the globe.

Ferrari to accept crypto payments in Europe

Ferrari began accepting crypto for its cars in the US in 2023. Per the Reuters report on July 24, the company plans to have the same scheme available in Europe and other countries. However, this will only be available where crypto payments are legally accepted.

The target for the EU launch is the end of this month, while other jurisdictions should have support for crypto by the end of this year.

Expansion into Europe allows Ferrari to bring an alternative payment method for its European customers amid the evolving market, the company noted. Last year, when Ferrari launched the pay with crypto option, it tapped major crypto payments processor BitPay.

While the announcement released on Wednesday does not state the crypto partner, the company did acknowledge that most dealers across Europe are already getting ready for the rollout. Most of these companies have integrated or are in the process of adding support for the new scheme, the report added.

Ferrari’s partnership with BitPay allowed clients to buy cars with Bitcoin, Ethereum and USDC.

Bitpay helps convert crypto into traditional currencies on payment completion, with this helping merchants safeguard against potential price swings.

BitPay announced in June that it had joined MoonPay’s partner network to bring PayPal payments to its users in the US and EU.

The post Ferrari extends crypto payment system to Europe after US launch appeared first on CoinJournal.