Key Points:
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.
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: 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.
Nyan Heroes Airdrop has become a trending topic, hailed as the hottest AAA shooter game…
Slow Mist founder exposes TON phishing messages, which users tricked into believing they receive cheap…
Sui's zkLogin introduces multi-signature recovery and Apple account support, enhancing user options and account recovery…
BlockFi shut down will take place at the end of May, and Coinbase will be…
Pantera Capital TON investment validates Telegram founder Pavel Durov's principles, potentially boosting TON's adoption and…
Subsidiaries Grayscale, Foundry, and Luno contribute to DCG first quarter revenue growth, despite challenges such…
This website uses cookies.