The SEC Seeks Public Input on Franklin Templeton’s Bitcoin ETF Proposal
The Securities and Exchange Commission (SEC) is seeking public input on the approval of a spot bitcoin exchange-traded fund (ETF) proposed by Franklin Templeton. This comes shortly after the SEC delayed its decision on the matter. The regulator’s request for feedback indicates a thorough approach to the decision-making process, particularly in understanding potential risks associated with fraud and manipulation, as well as examining the proposed fund’s relationship with Coinbase as the custodian.
SEC Delays Decisions and Considers Hashdex Bitcoin Futures ETF Proposal
The SEC has delayed decisions on all applications for spot Bitcoin funds and has not approved any so far. Additionally, the regulator is considering a proposal from Hashdex Bitcoin Futures ETF to convert its ETF into a partial spot product listed on the New York Stock Exchange.
Swift Movement from the SEC
Experts have noted the SEC’s promptness in taking action on the Franklin Bitcoin ETF proposal. James Seyffart, an ETF analyst at Bloomberg Intelligence, expressed surprise at the quick movement, especially since Franklin Templeton had not submitted an updated S-1 form until prompted by the SEC. Seyffart observed that the amended S-1 form closely aligns with the creation/redemption process used by many others.
Possible Alignment of Schedules
Scott Johnsson from Van Buren Capital speculated that Franklin Templeton’s early submission may be an attempt to align the schedules of all spot bitcoin ETFs. The goal could be to have the comment period end before January 10th to approve all proposals simultaneously.
A Significant Step in Evaluating Cryptocurrency-related Financial Products
The SEC’s call for public input signifies a significant step in evaluating cryptocurrency-related financial products. This move reflects the growing interest and scrutiny surrounding this rapidly evolving sector.
Hot Take: The SEC Seeks Public Input on Franklin Templeton’s Spot Bitcoin ETF Proposal
The Securities and Exchange Commission (SEC) is actively seeking public input on the approval of a spot bitcoin exchange-traded fund (ETF) proposed by Franklin Templeton. This demonstrates the regulator’s commitment to a thorough decision-making process, particularly in assessing potential risks and examining the proposed fund’s custodian relationship. The SEC’s promptness in taking action on this proposal has surprised experts, indicating a possible effort to align schedules for all spot bitcoin ETFs. This development showcases the SEC’s ongoing evaluation of cryptocurrency-related financial products and highlights the increasing interest and scrutiny in this dynamic industry.
By
By
By