- 0.19% sponsor fee
- Coinbase custody on a negligence standard
- Franklin Templeton ether fund
Franklin Ethereum ETF Overview
- Fund Name
- Franklin Ethereum ETF
- Ticker
- EZET
- Listing Exchange
- Cboe BZX
- Fund Family / Issuer
- Franklin Templeton
- Underlying Asset
- Ethereum
Additional details
- Exposure
- Spot ether held by the trust.
- Fund Structure
- Delaware statutory trust, not registered as an investment company under the Investment Company Act of 1940.
- Annual sponsor fee
- 0.19%
- Fee Assessment Base
- Net asset value, as defined for the sponsor fee.
- Effective Annual Charge
- 0.19%
- Fee Terms Checked
- Sep 24, 2026
- Benchmark
- CME CF Ether-Dollar Reference Rate – New York Variant
- Custody Appointments
- Coinbase Custody Trust Company; Primary ether custodian; Holds the ether as the trust’s property and is liable for losses caused by its negligence, with a duty to replace lost ether.
- Retail Asset Redemption
- Individual shareholders cannot redeem shares for ether sent to a wallet. Authorized participants create and redeem blocks of shares with the trust.
- 30-day Median Bid/Ask Spread
- 0.06%As of Sep 23, 2026Franklin Templeton; 30-Day Median Bid/Ask Spread; Latest published 30-day median; the issuer gives no sampling definition.; Retrieved Sep 24, 2026
- Fund Assets
- USD 56,690,000As of Sep 23, 2026
Total net assets
- Staking
- No
- Trust
- Franklin Ethereum Trust, formed Feb. 8, 2024
- Fiscal year end
- March 31
- Quarterly report reviewed
- Quarter ended June 30, 2026
- Rating reviewed
- Sep. 25, 2026, ETH methodology version eth-1.1, data cutoff Sep. 24
- Other investor costs
- Bid-ask spread and any broker charges are separate
- Official website
- Franklin Templeton EZET fund page
- Research checked
- Sep. 24, 2026
Franklin Ethereum ETF Screenshots
Screenshot 1 of 8
Franklin Ethereum ETF Pros and Cons
Pros
- Lowest non-staking fee in this comparison
- Custodian answers for ordinary negligence
- No personal wallet or keys to manage
Cons
- No staking rewards
- Small fund, at about $57 million
- Share price can differ from asset value
Who EZET Is For
EZET fits investors who want ether exposure as a security and are content to leave storage to the fund’s service providers.
| What You Want | How EZET Fits |
|---|---|
| Ether exposure in a brokerage account | Fits, provided your broker offers the US-listed EZET in your account type |
| Exposure without managing ether keys | Custody is handled through the trust instead of a personal wallet |
| Staking rewards on your ether | Does not fit. EZET does not stake |
| Ether to send, spend or stake yourself | Does not fit. EZET shares cannot be transferred to an ether wallet |
CryptoSlate Rating
EZET scores 6.9/10 under CryptoSlate’s Ethereum ETF methodology, version eth-1.1. The assessment uses public fund terms and reported market indicators, with a September 24, 2026 data cutoff.
| Pillar | Weight | Score | Assessment |
|---|---|---|---|
| Costs | 24% | 8.4/10 | Ongoing charge 0.19%, with no waiver in effect. |
| Published spread indicator | 20% | 8.8/10 | Published 30-day median: 0.06%, dated Sep. 23, 2026. |
| Fund scale | 8% | 4.0/10 | $56.69 million in reported fund assets, dated Sep. 23, 2026. Funds of $50 million to $100 million score 4. |
| Custody terms | 16% | 10.0/10 | Fund ownership is recorded separately, and Coinbase answers for ordinary negligence in safekeeping. |
| Reporting | 12% | 10.0/10 | Its SEC reports are up to date and product disclosures are available. Management reported effective disclosure controls at June 30, 2026. |
| Staking | 20% | 0.0/10 | EZET does not stake, so it scores zero here. |
EZET’s low fee and full custody marks keep it near the top of the non-staking funds. Two things hold it back: it does not stake, which costs the full 20% staking pillar, and at about $57 million it sits in the $50 million to $100 million size band.
Fidelity’s published 30-day median for EZET was 0.11% on September 22, 2026. Using that figure instead of Franklin’s 0.06% lowers the overall to 6.7/10. Our method scores the issuer’s own published figure first and shows any other published median that would change the rating.
Staking is worth 20% of our Ethereum score because it changes what a shareholder earns from the same ether. A fund that does not stake scores zero on it and cannot score above 8.0 overall.
What EZET Is and How It Works
EZET holds ether so that its shares follow ether’s price, less expenses. It holds the ether itself and uses no futures contracts.
Shareholders own an interest in the trust. They can hold and trade that security but do not control the private keys to its ether.
Benchmark and How to Check Tracking
EZET values its ether using the CME CF Ether-Dollar Reference Rate – New York Variant, from CF Benchmarks. It sets a daily reference price aligned with 4:00 pm New York time.
Net asset value, or NAV, is the value of the trust’s assets after liabilities, divided by the number of shares. To check tracking, compare the fund’s NAV return with the benchmark over matching dates. Comparing a closing value with an ether quote from another hour introduces a timing difference that has nothing to do with fees.
Is EZET Safe? Custody and Investment Risks
A fall in ether’s market price can substantially reduce your EZET holding. The exchange listing and the Franklin Templeton name offer no protection against that decline.
Who Holds EZET’s Ether?
Coinbase Custody Trust Company is EZET’s ether custodian. The agreement keeps the fund’s ether segregated from Coinbase’s own assets.
Coinbase is liable where a loss results from its negligence, fraud or willful misconduct, and its terms on unauthorized account access are tied to the same standard. That makes EZET one of three funds we rate with full custody marks, alongside ETHA and QETH.
Fund Structure and Regulatory Status
EZET is a Delaware statutory trust and is not registered under the Investment Company Act of 1940. Calling it an ETF does not give it the same regulatory framework as a fund registered under that act.
EZET Fees and Trading Costs
The sponsor fee is one part of what EZET costs. Buying and selling the shares adds costs of their own.
| Cost | What Applies to EZET | What It Means for You |
|---|---|---|
| Annual sponsor fee | 0.19% | Ongoing fund charge, accrued daily and paid at least quarterly in US dollars |
| Broker charges | Depend on the broker and account | A commission or account charge may apply, separate from EZET’s fee |
| Bid-ask spread | Depends on the current share quote | A wider spread raises the cost of entering or leaving a position |
Applying 0.19% to a hypothetical $10,000 held at a constant value for a full year gives $19. Your costs move with the value of the holding, and trading costs come on top.
No fee waiver applies now.
Buying and Selling EZET
EZET trades on Cboe BZX. Brokerage access varies by account and location. Confirm the fund’s full name and ticker in your account, and check whether fractional shares and your account type are supported.
Share Price and NAV
The share price can sit above NAV, called a premium, or below it, called a discount. When authorized participants create or redeem shares with the trust, the market price tends to move back toward NAV. Check the current bid and ask prices and any broker commission before you trade.
Ether Withdrawals and Retail Shares
Buying a share does not put ether into a wallet you control. Retail investors buy and sell shares on the market. Authorized participants create and redeem blocks of 50,000 shares with the trust. That process gives an ordinary shareholder no way to withdraw ether personally.
Where to buy EZET
Explore broker options for Franklin Ethereum ETF.
Robinhood
Trade EZET shares through Robinhood’s U.S. securities brokerage.
U.S. accounts, subject to account eligibility and trading permissions.
Listing: Primary listing (EZET — Cboe BZX). Verified markets: United States. Eligible accounts: U.S. self-directed securities brokerage through Robinhood Financial LLC; check IRA and fractional-share eligibility in your account.
Webull
Trade EZET shares through Webull’s U.S. securities brokerage.
U.S. accounts, subject to account eligibility and trading permissions.
Listing: Primary listing (EZET — Cboe BZX). Verified markets: United States. Eligible accounts: U.S. self-directed securities brokerage through Webull Financial LLC; check IRA and fractional-share eligibility in your account.
Availability depends on country and account.
EZET Alternatives
Holding ether in a personal wallet is one alternative for investors who need to make transfers or control the keys. Investors who want rewards on their ether can look at funds that stake it. Those funds add slashing risk, and part of the rewards goes to the sponsor and staking providers.
EZET vs ETHW
Bitwise’s Ethereum ETF (ETHW) charges almost the same fee and does not stake either.
| Comparison | EZET | ETHW |
|---|---|---|
| Annual sponsor fee | 0.19% | 0.20% |
| Custody score | 10.0/10 | 7.0/10 |
| Fund assets | $57 million | $297 million |
| CryptoSlate rating | 6.9/10, or 6.7 at Fidelity’s 0.11% spread | 6.6/10 |
The fees are almost identical. EZET’s Coinbase terms rest on ordinary negligence, while ETHW’s require gross negligence, which is why EZET rates higher despite being much smaller.
References
The rating and supporting fund terms were reviewed on September 25, 2026, using ETH methodology version eth-1.1 and a September 24 data cutoff. Market figures carry their own dates in the rating. The reporting review covers the quarter ended June 30, 2026.
We reviewed Franklin Templeton’s fund page, the trust’s SEC filings, including its annual and quarterly reports, prospectus and filed custody agreements, and third-party fund data, checked on September 24, 2026. The assessment covers fund structure, costs and custody terms. It does not include an executed trade or an inspection of private custody systems.
To report an error in this review, contact CryptoSlate.
Ethereum ETF Pillar Scores
- Fund fees 24% weight Ongoing sponsor charge before temporary waivers, fee basis, covered expenses, extra fund costs, and waiver terms.Not disclosed
- Trading spread 20% weight Published 30-day median bid-ask spread, with its source, observation date, and calculation definition recorded.Not disclosed
- Fund size 8% weight Assets attributable to the fund, using a dated figure and a clearly identified asset-value basis.4.0 / 10
- Staking & reward sharing 20% weight Share of fund ETH staked and the share of gross staking rewards retained for shareholders after all reward deductions.0.0 / 10
- Custody & asset rights 16% weight Fund ownership, asset records, custody-loss liability, withdrawal rights, and recourse for provider-caused slashing.10.0 / 10
- Reporting & transparency 12% weight Required reports, public ETH and staking holdings, benchmark, NAV, and management's disclosure-control conclusions.10.0 / 10
Final Verdict
EZET is the cheapest non-staking ether fund we rate, at 0.19% a year, and its custody terms earn full marks. It is small, and its spread depends on the source: Franklin reports 0.06% while Fidelity shows 0.11%. It does not stake. Investors who want staking rewards, or a larger fund, have other options.
Best For
Cost-focused investors who want ether exposure in a brokerage account without staking.
Avoid If
- You want staking rewards, need to withdraw ether, or prefer a larger fund.
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