The US SEC delays decision on Franklin Templeton’s Bitcoin and Ethereum ETF to January 2025, reflecting a cautious approach amid growing crypto adoption.
SEC Regulatory Update
The US Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton’s Bitcoin and Ethereum index ETF, now set for January 6, 2025. Initially filed on September 19, 2024, the proposal underwent an initial review period ending November 22, 2024. The extension reflects the SEC’s cautious stance toward crypto-related products, ensuring compliance with existing regulations and evaluating potential risks thoroughly.
Franklin Templeton’s Crypto Expansion
As a major asset manager overseeing $1.5 trillion, Franklin Templeton continues to expand its cryptocurrency offerings. Its proposed ETF aims to complement existing spot Bitcoin and Ethereum ETFs, adding depth to its crypto-focused investment products. Simultaneously, the firm advances blockchain initiatives, with its Benji tokenization platform now integrated into five networks, including Ethereum and Avalanche.
Context Amid Industry Moves
This delay aligns with the SEC’s measured approach to cryptocurrency ETFs, yet the industry remains active. Competitor Bitwise recently filed to convert its Bitwise 10 Crypto Index Fund into an Exchange Traded Product (ETP), reflecting a trend toward diversified crypto investments. If approved, these products could increase accessibility for retail and institutional investors alike.
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