Franklin

President Donald Trump

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s application to introduce a crypto index exchange-traded fund (ETF) offering exposure to Bitcoin (BTC) and Ethereum (ETH) until January 6, 2025.
Originally, the SEC had a 45-day deadline to reach a decision, which would have ended on November 22. However, under Section 19(b)(2) of the Securities Exchange Act of 1934, the SEC can extend this period by up to 90 days if it determines that additional time is required to thoroughly assess the rule change and address any related concerns.
If granted approval, the Franklin Crypto Index ETF, filed on August 17, would be listed on the Cboe BZX Exchange under the Franklin Crypto Trust, using the ticker EZPZ.
<h2 class="wp-block-heading" id="h-expanding-etf-ecosystem">Expanding ETF Ecosystem</h2>
In a related development, Brazilian asset manager Hashdex filed an application in June to launch its own crypto index ETF. The proposed Hashdex Nasdaq Crypto Index US ETF would also track Bitcoin and Ethereum.
Simultaneously, various U.S. asset managers are seeking regulatory approval for ETFs that track other cryptocurrencies, including XRP, Solana (SOL), Hedera (HBAR), and Litecoin (LTC).
The <a href="https://www.unlock-bc.com/132150/trumps-win-and-the-crypto-world-will-he-deliver-on-his-big-promises/" rel="noopener noreferrer nofollow">reelection of President Donald Trump</a> has sparked <a href="https://www.unlock-bc.com/132382/j-p-morgan-predicts-economic-shifts-with-trumps-support-for-crypto/" rel="noopener noreferrer nofollow">optimism across financial markets</a>, with many firms anticipating a more <a href="https://www.unlock-bc.com/132546/ex-sec-chief-signals-crypto-legislation-likely-under-trumps-administration/" rel="noopener noreferrer nofollow">favorable regulatory climate for the crypto industry i</a>n the coming months. VanEck previously described its Solana ETF as a strategic “bet” on Trump’s reelection, expressing confidence that the application would receive approval during his administration.
Meanwhile, U.S. regulators have recently granted final approval for the launch of<a href="https://www.unlock-bc.com/132789/nasdaq-takes-major-step-by-launching-options-trading-for-bitcoin-etf/" rel="noopener noreferrer nofollow"> options trading on spot Bitcoin ETFs</a>, including <a href="https://www.unlock-bc.com/132854/bitcoins-surge-us-etf-options-fuel-bullish-bets-and-market-optimism/" rel="noopener noreferrer nofollow">BlackRock’s IBIT</a>, Bitwise’s BITB, and <a href="https://www.unlock-bc.com/132903/grayscale-to-introduce-bitcoin-etf-options-amid-growing-investor-demand/" rel="noopener noreferrer nofollow">Grayscale’s GBTC</a>.
The debut of IBIT options trading saw volumes soar to nearly $2 billion on the first day, with analysts describing the performance as extraordinary.
The post <a href="https://www.unlock-bc.com/132906/sec-delays-decision-on-franklin-templeton-crypto-index-etf/" rel="noopener noreferrer nofollow">SEC Delays Decision on Franklin Templeton Crypto Index ETF</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.

SEC Delays Decision on Franklin Templeton Crypto Index ETF

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