The Missing Piece in Franklin Templetonβs Bitcoin ETF Filing
Franklin Templeton, a top investment management firm, recently filed a prospectus signaling its intent to launch a Bitcoin ETF. However, Bloomberg analyst James Seyffart pointed out that the firm has not yet filed the 19b-4 form, which is a crucial step in the approval process. This has raised questions about what might be causing the delay.
The delay in Franklin Templeton’s 19b-4 filing has sparked speculation and discussion within the crypto community. As the race to launch the first Bitcoin ETF continues, people are curious about the firm’s approach and the reasons behind the filing delay.
Interesting (to me at least): Franklin (@FTI_US) kinda entered the #Bitcoin ETF race on Sept 12 when they filed a prospectus but they still haven’t filed a 19b-4 which is what actually gets the clock started with the SEC. What are they waiting for???π€ pic.twitter.com/VlOOcZAVUM
β James Seyffart (@JSeyff) September 26, 2023
While companies like VanEck, Grayscale, and BlackRock have been leading the race to get their Bitcoin ETF proposals approved by the SEC, none have been approved yet due to concerns over market manipulation and investor protection.
Possible Reasons for the Delay
The delay in filing the 19b-4 application could be attributed to several factors. Franklin Templeton may be taking extra time to ensure that their application addresses all regulatory concerns and adequately mitigates market risks.
Given the SEC’s focus on market manipulation and investor protection in the crypto space, companies are under pressure to submit robust proposals that can withstand regulatory scrutiny.
Another possibility is that Franklin Templeton is strategically timing its 19b-4 filing. In a highly competitive Bitcoin ETF race, companies may be waiting for the right moment to submit their applications to gain a competitive advantage or respond to market developments.
Hot Take: Franklin’s Application and Its Impact on the Bitcoin ETF Race
James Seyffart’s tweet has brought attention to Franklin Templeton’s approach in entering the Bitcoin ETF race. The timing and content of their application will be closely watched by both the crypto community and regulators as it could play a significant role in determining the success of their Bitcoin ETF proposal.
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