SEC Postpones Decision on Franklin Templeton Cryptocurrency Index ETF to 2025
U.S. Securities and Exchange Commission (SEC) It has been delayed The decision is on Franklin Templeton’s application to launch a cryptocurrency exchange-traded fund (ETF) offering exposure to Bitcoin (BTC) and Ethereum (ETH) by January 6, 2025.
The SEC initially set a 45-day deadline for a decision, which was November 22. However, under Section 19(b)(2) of the Securities Exchange Act of 1934, the SEC may extend this period by up to 90 days. Ensure additional time is needed to evaluate rule changes and related issues.
If approved, the Franklin Crypto Index ETF; contaminated It will be trading on the Franklin Crypto Trust’s Cboe BZX Exchange on August 17 under the ticker EZPZ.
Revitalizing the ETF ecosystem
Brazilian asset management company Hashdex applied to launch its own cryptocurrency index ETF in June. Hashdex Nasdaq Crypto Index US ETF tracks BTC and ETH.
At the same time, U.S. asset managers are seeking approval for ETFs tracking other cryptocurrencies, including XRP, Solana (SOL), Hedera (HBAR), and Litecoin (LTC).
President Donald Trump’s victory in the US election has boosted market optimism, with many companies anticipating a favorable regulatory environment for the industry in the coming months. VanEck previously said its Solana ETF was a “bet” on Trump’s re-election and that it expects the application to be approved under the Trump administration.
U.S. regulators recently gave final approval to the launch of options trading on Bitcoin spot ETFs, including BlackRock’s IBIT, Bitwise’s BITB, and Grayscale’s GBTC.
IBIT options recorded nearly $2 billion in trading volume on the first day of trading, a figure analysts said was astonishing.
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