Key Takeaways
- The SEC delayed the decision on Franklin Templeton’s Bitcoin and Ethereum ETF, extending the deadline to January 6, 2025.
- The SEC’s review period extension allows more time to evaluate the proposal and its implications.
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The SEC has delayed its decision on Franklin Templeton’s proposed Bitcoin and Ethereum index ETF.
The November 20, 2024, filing indicates that the decision on the Franklin Crypto Index ETF has been postponed, with a new deadline set for January 6, 2025.
Initially submitted on September 19, 2024, the proposal was published for public comment on October 8.
The original 45-day review period was set to expire on November 22, 2024, following the proposal’s publication in the Federal Register on October 8.
The commission has not received any comment letters on the proposed rule change.
Franklin Templeton, which manages over $1.5 trillion in assets, already operates a spot Bitcoin ETF approved in the initial wave of authorizations by the SEC in January and a spot Ethereum ETF launched in July.
As of now, there are 11 spot Bitcoin ETFs and 8 spot Ethereum ETFs actively trading in the market.
Additionally, Bitwise recently filed to convert its 10 Crypto Index Fund into an ETF, with 75% allocated to Bitcoin and 16% to Ethereum, making up 91% of the fund’s portfolio.
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https://cryptobriefing.com/sec-delays-franklin-templeton-etf/
