SEC Delays Decision on Franklin Templeton Bitcoin and Ethereum Index ETF

Key takeaways

The SEC delayed the decision on the Franklin Templeton bitcoin and ethereum ETF, extending the deadline to January 6, 2025.
The extension of the SEC's review period allows more time to evaluate the proposal and its implications.

The SEC has delayed its decision on Franklin Templeton's proposed bitcoin and ethereum index ETF.

On November 20, 2024, presentation indicates that the decision on the Franklin crypto Index ETF has been postponed, with a new deadline set for January 6, 2025.

Initially submitted on September 19, 2024, the proposal was posted for public comment on October 8.

The original 45-day review period would expire on November 22, 2024, following publication of the proposal in the Federal Register on October 8.

The commission has not received any comment letters on the proposed rule change.

Franklin Templeton, which manages more than $1.5 trillion in assets, already operates a bitcoin spot ETF approved in the initial wave of SEC clearances in January and an ethereum spot ETF launched in July.

As of now, 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.