Digital Assets: Franklin Templeton Throws Its Hat Into The Spot Bitcoin ETF Ring

September 12, 2023 | Digital Assets, News
https://dailyalts.com/wp-content/uploads/2023/09/FT_Houser.png

Franklin Templeton has joined the race to float a spot bitcoin ETF, despite the SEC’s recent postponement of a decision on the matter.

Franklin Templeton, a major financial services firm, has entered the competitive race for a spot Bitcoin exchange-traded fund (ETF). In its filing with the U.S. Securities and Exchange Commission, the company proposed a Coinbase-custodied ETF that would trade on Cboe BZX Exchange, Inc.

The product has not yet been assigned a ticker symbol. This move follows similar actions by industry giants like BlackRock (NYSE: BLK), signaling its anticipation that the SEC may soon approve a spot Bitcoin ETF, offering everyday investors an accessible way to invest in Bitcoin alongside traditional assets like stocks and bonds.

However, it is to be noted that Franklin Templeton’s application follows a series of events, including the SEC’s postponement of decisions on ETF applications from WisdomTree, Valkyrie, Fidelity, VanEck, Bitwise, and Invesco for Bitcoin spot ETFs on August 31. Additionally, there was a court ruling on August 29 that mandated the SEC to evaluate Grayscale’s request to transform its Bitcoin futures ETF into a spot ETF.

Franklin Templeton, known for its expertise in structured investment products such as mutual funds and ETFs, has shown an interest in digital assets, even exploring innovative funds that combine blockchain technology with tokenized treasury bonds.

Related Story:  Grayscale’s Stand Upheld; Court Rules Against SEC In Bitcoin ETF Conversion Lawsuit

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/09/termination-110302_640.jpg
Digital Assets: Epic Lays Off 830 Employees As Metaverse Underperforms
September 29, 2023     Digital Assets, News

Earlier today, Tim Sweeney, the head of Epic Games, shared an email with the company’s employees, announcing some significant changes within the organization. In this message, Sweeney discussed the necessity…

https://dailyalts.com/wp-content/uploads/2023/09/artificial-intelligence-7778032_640.jpg
Artificial Intelligence: Mysterious US-Based Books3 Dataset Used To Train AI Was A Massive Trove Of Pirated Books
September 29, 2023     Artificial Intelligence, Latest News, News

Thousands of books penned by some of Australia’s most esteemed authors may have fallen victim to what Booker prize-winning novelist Richard Flanagan has described as “the biggest act of copyright…

https://dailyalts.com/wp-content/uploads/2023/09/HK_CWB_銅鑼灣_Causeway_Bay_銅鑼灣時代廣場_Times_Square_office_Tower_One_阿里巴巴_Alibaba_Hong_Kong_June_2022_Px3_03.jpg
FinTech: Ant’s Chongqing Consumer Finance Arm Raising $616M To Ramp Up Loans
September 29, 2023     FinTech, News

Chongqing Consumer Finance, the consumer finance arm of Ant Group, a prominent player in China’s financial technology landscape, is currently in the process of raising a substantial sum of fresh…

https://dailyalts.com/wp-content/uploads/2023/09/71d1eee5e25ab8c_960x347.jpg
Venture Capital: Mercury’s Fund V Mops Up $160M For US Startups “Between The Coasts”
September 29, 2023     News, Venture Capital

Mercury Fund, the premier early-stage venture firm with a focus on non-coastal tech hubs, has successfully closed its largest fund to date, Mercury Fund V, with a total capital commitment…