The United States Securities and Exchange Commission (SEC) delayed its decision regarding Franklin Templeton’s application to launch a crypto index exchange-traded fund (ETF) offering exposure to Bitcoin (BTC) and Ethereum (ETH) until January 6, 2025.
The SEC initially had 45 days to make a decision, which should have fallen on November 22. However, under Section 19(b)(2) of the Securities Exchange Act of 1934, the SEC may extend this deadline up to 90 days. if he finds the additional time necessary to evaluate the rule change and any associated issues.
If approved, the Franklin Crypto Index ETF, filed on August 17, would trade on the Cboe BZX Exchange under the Franklin Crypto Trust with the ticker EZPZ.
Thriving ETF ecosystem
Brazilian asset manager Hashdex filed to launch its own crypto index ETF in June. The US Hashdex Nasdaq Crypto Index ETF would track BTC and ETH.
At the same time, asset managers in the United States are seeking approval for ETFs that track other cryptocurrencies, such as XRP, Solana (SOL), Hedera (HBAR), and Litecoin (LTC).
President Donald Trump’s victory in the US election has led to increased optimism in the market, with many companies expecting a favorable regulatory environment for the sector in the coming months. VanEck has previously said his Solana ETF is a “bet” on Trump’s re-election and expects the application to be given the green light under his administration.
US regulators recently gave final approval to launch options trading for spot Bitcoin ETFs, namely BlackRock’s IBIT, Bitwise’s BITB and Grayscale’s GBTC.
IBIT options saw nearly $2 billion in trading volume on its first day of trading, with analysts calling the numbers remarkable.
The article After SEC Delays Decision on Franklin Templeton Crypto Index ETF Until 2025 appeared first on CryptoSlate.
