Key takeaways
- The SEC delayed the decision on Franklin Templeton’s Bitcoin and Ethereum ETFs, extending the deadline until January 6, 2025.
- The extension of the SEC review period allows more time to evaluate the proposal and its implications.
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The SEC has delayed its decision on Franklin Templeton’s proposed Bitcoin and Ethereum index ETF.
The November 20, 2024 filing indicates that the decision on the Franklin Crypto Index ETF has been postponed, with a new deadline set for January 6, 2025.
Originally submitted on September 19, 2024, the proposal was released for public comment on October 8.
The initial 45-day review period was set to expire on November 22, 2024, after the proposal was published in the Federal Register on October 8.
The commission did not receive any comment letters on the proposed rule change.
Franklin Templeton, which manages more than $1.5 trillion in assets, already operates a spot Bitcoin ETF approved in the first wave of SEC approvals in January and a spot Ethereum ETF launched in July.
Currently, there are 11 Bitcoin spot ETFs and 8 Ethereum spot ETFs actively trading in the market.
Additionally, Bitwise recently filed to convert its 10 Crypto Index Fund into an ETF, with 75% allocated to Bitcoin and 16% to Ethereum, representing 91% of the fund’s portfolio.
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