Franklin Templeton and Hashdex Bitcoin ETF Applications: SEC Calls for Preemptive Public Feedback

The SEC Requests Public Feedback on Bitcoin ETF Applications

The US Securities and Exchange Commission (SEC) has opened the door for public feedback on Bitcoin exchange-traded fund (ETF) applications filed by Franklin Templeton and Hashdex sooner than expected. This move by the SEC could potentially line up all the applicants for potential approval by the January 10, 2024 deadline.

The firms now have 21 days to respond to the SEC’s request for feedback and an additional two weeks to file any rebuttals. This suggests that a decision could be reached as early as January.

Update: Wow. SEC went super early on Franklin. They weren’t due for another decision until Jan 1. Notably Franklin is the only issuer who didn’t submit an updated S-1 yet. Wonder if that has any impact here. https://t.co/go4K1wSTpw pic.twitter.com/bA6aULvPCd

— James Seyffart (@JSeyff) November 28, 2023

All Bitcoin ETF Applicants Lined Up For January Deadlines

The early SEC filing suggests that the approval of Bitcoin ETFs is likely to occur in early January, according to lawyer Scott Johnsson. He stated that this filing is the only way it would make sense and expressed confidence in the approval process.

They might have chosen to do this early so they could have the comment period end before Jan 10, in order to approve everyone at the same time. https://t.co/L5q65I6EDa

— Scott Johnsson (@SGJohnsson) November 28, 2023

Following the SEC’s invitation for comment, all applicants for spot Bitcoin ETFs now have their next deadline lined up between January 2nd and 17th.

Hot Take: SEC Accelerates Bitcoin ETF Approval Process

The SEC’s request for public feedback on Bitcoin ETF applications from Franklin Templeton and Hashdex ahead of schedule suggests that the approval process might be expedited. With the potential for all applicants to be approved by the January 10, 2024 deadline, the cryptocurrency market could see a significant boost in early January. This move by the SEC signals growing acceptance and recognition of Bitcoin ETFs as a legitimate investment vehicle.