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Read more: Spot Ethereum ETF vs. Ethereum Futures ETF: Which Is The Better Investment?
Franklin Templeton submitted its S-1 registration statement for the Franklin spot Ethereum ETF in February. The ETF aims to mirror the price movements of Ethereum, with Coinbase Custody Trust Company and the Bank of New York Mellon designated as custodians.
According to the filing on Tuesday, the SEC cited the need for more time to assess the proposed rule changes and related issues, emphasizing the complexity of cryptocurrency-based ETFs. This decision aligns with the SEC’s cautious approach towards such instruments, evident in the postponement of other Ethereum ETF applications from financial giants like VanEck and BlackRock.
Additionally, the SEC is facing deadlines for spot Ethereum ETF applications from VanEck and ARK/21Shares, with a final decision expected by May 23. Analysts speculate that the SEC’s ruling on these applications in May may influence its decision regarding Franklin spot Ethereum ETF.
Meanwhile, the Cboe BZX exchange has just proposed modifications to the Franklin Bitcoin ETF, seeking to alter the deadline for cash purchase basket orders from 3 p.m. to 2 p.m. or other times to enhance flexibility.
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. |
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