SEC Delays Franklin Templeton Bitcoin ETF, BTC Price Remains Steady
Key Points:
- The SEC has delayed the approval of Franklin Templeton’s spot Bitcoin ETF application.
- The SEC is analyzing the proposal’s consistency with regulations, focusing on preventing fraudulent acts and protecting investors’ interests.
SEC delays Franklin Templeton Bitcoin ETF, the delay was anticipated and has not had an immediate impact on the price of Bitcoin. Currently, BTC is trading at $38,000, showing a 2% increase over the past 24 hours.
The Securities and Exchange Commission (SEC) has delayed the approval of asset manager Franklin Templeton’s spot Bitcoin ETF application.
According to the document, the SEC has instituted proceedings to analyze the proposed rule change’s consistency with regulations, specifically focusing on preventing fraudulent and manipulative acts and protecting investors’ interests.
The SEC seeks comments on various aspects, including the susceptibility of the proposed ETF to manipulation, the liquidity and transparency of Bitcoin markets, and the correlation between spot Bitcoin markets and the CME Bitcoin futures market.
SEC delays Franklin Templeton Bitcoin ETF
Franklin Templeton has filed an application for a spot Bitcoin exchange-traded fund (ETF) on September 12, 2023. In the filing with the U.S. Securities and Exchange Commission, Franklin Templeton proposed an ETF that would be custodied by Coinbase and traded on the Cboe BZX Exchange, Inc. However, a ticker for the product has not been proposed yet.
Franklin Templeton has followed the footsteps of BlackRock and other financial heavyweights who are anticipating that the SEC may soon approve, or be compelled by the courts to approve, a spot Bitcoin ETF. If approved, this type of ETF would provide everyday investors with an easy way to gain exposure to the price of Bitcoin in their brokerage accounts, alongside stocks and bonds.
DISCLAIMER:Â The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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SEC Delays Franklin Templeton Bitcoin ETF, BTC Price Remains Steady
Key Points:
- The SEC has delayed the approval of Franklin Templeton’s spot Bitcoin ETF application.
- The SEC is analyzing the proposal’s consistency with regulations, focusing on preventing fraudulent acts and protecting investors’ interests.
SEC delays Franklin Templeton Bitcoin ETF, the delay was anticipated and has not had an immediate impact on the price of Bitcoin. Currently, BTC is trading at $38,000, showing a 2% increase over the past 24 hours.
The Securities and Exchange Commission (SEC) has delayed the approval of asset manager Franklin Templeton’s spot Bitcoin ETF application.
According to the document, the SEC has instituted proceedings to analyze the proposed rule change’s consistency with regulations, specifically focusing on preventing fraudulent and manipulative acts and protecting investors’ interests.
The SEC seeks comments on various aspects, including the susceptibility of the proposed ETF to manipulation, the liquidity and transparency of Bitcoin markets, and the correlation between spot Bitcoin markets and the CME Bitcoin futures market.
SEC delays Franklin Templeton Bitcoin ETF
Franklin Templeton has filed an application for a spot Bitcoin exchange-traded fund (ETF) on September 12, 2023. In the filing with the U.S. Securities and Exchange Commission, Franklin Templeton proposed an ETF that would be custodied by Coinbase and traded on the Cboe BZX Exchange, Inc. However, a ticker for the product has not been proposed yet.
Franklin Templeton has followed the footsteps of BlackRock and other financial heavyweights who are anticipating that the SEC may soon approve, or be compelled by the courts to approve, a spot Bitcoin ETF. If approved, this type of ETF would provide everyday investors with an easy way to gain exposure to the price of Bitcoin in their brokerage accounts, alongside stocks and bonds.
DISCLAIMER:Â The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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