Franklin Templeton Spot Bitcoin ETF Shows Promise In New Discussions With The SEC

Key Points:

• The SEC’s meeting with Franklin Templeton on December 8 signals progress in approving Franklin Templeton Bitcoin spot ETF.
• Franklin Templeton acknowledges the high demand for Bitcoin among its clients.
• With 12 Bitcoin spot ETFs awaiting SEC approval, including those from major players like BlackRock and Fidelity, analysts anticipate a high approval rate.

According to reports, the U.S. Securities and Exchange Commission (SEC) engaged in discussions with Franklin Templeton on December 8 regarding its proposed Bitcoin spot ETF. 

SEC Advances Talks on Franklin Templeton Spot Bitcoin ETF Approval

This follows the SEC’s public consultation on the Franklin Templeton spot Bitcoin ETF and Hashdex spot Bitcoin ETF proposals, signaling a potential resolution in January. Recent SEC filings suggest a move to conclude the comment period on these funds, indicating progress toward a decision.

Franklin Templeton, managing $1.33 trillion in assets, acknowledged the significant demand for Bitcoin. CEO Jenny Johnson emphasized that clients are keenly monitoring Bitcoin for investment opportunities, noting the distinction between Bitcoin and blockchain technology.

The SEC’s consideration of the Franklin Templeton spot Bitcoin ETF is indicated by a disclosure revealing the initiation of proceedings to approve or deny the proposal.

In September, the company submitted its Franklin Templeton spot Bitcoin ETF application to the SEC. If approved, the fund will be listed on the Cboe BZX exchange and entrusted to Coinbase Custody. Concurrently, the SEC held discussions with Fidelity about its spot Bitcoin ETF.

Currently, 12 Bitcoin spot ETFs await the SEC’s final ruling, with major players such as BlackRock, VanEck, Bitwise, WisdomTree, Valkyrie, Fidelity, Invesco, ARK Invest, Global X, Hashdex, and Franklin Templeton in the mix. Analysts project a high likelihood of SEC approval, citing the substantial impact of these products on the crypto market, estimating approval rates to be as high as 90%.

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