Franklin

JUST

Bank AI

Bitcoin

Trillion

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<p>With a new request to the SEC, the number of applicants waiting for the approval of their Bitcoin ETF filings inches closer to 20. However, it is still unclear whether this potential approval is able to kickstart the next bull run.</p> 
<h2 id="franklin-templeton-files-for-spot-bitcoin-etf">Franklin Templeton files for spot Bitcoin ETF</h2> 
<p>Franklin Templeton, a San Mateo-based digital assets management heavyweight with over $1.5 trillion in AUM, filed with the U.S. SEC for a spot Bitcoin ETF. The document was published by Eric Balchunas, a senior ETF Analyst at Bloomberg media conglomerate.</p> 
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 <p lang="en" dir="ltr">JUST IN: Franklin has filed for a spot bitcoin ETF h/t <a href="https://twitter.com/NateGeraci?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@NateGeraci</a> <a href="https://t.co/4KHSPjFkBC" rel="noopener noreferrer nofollow">pic.twitter.com/4KHSPjFkBC</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1701593011204034641?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 12, 2023</a> 
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<p>According to the newly published prospectus, the Bitcoin spot ETF by Franklin Templeton will be launched in technical collaboration with Coinbase Custody Trust company.</p> 
<p>The Bank of New York Mellon is chosen as a cash custody provider for operations with the new ETF product. The ticker for the proposed ETF is yet to be announced to the public.</p> 
<p>As <a href="https://u.today/secs-new-bitcoin-etf-hurdle-could-spell-trouble" rel="noopener noreferrer nofollow">covered</a> by U.Today previously, Franklin Templeton joins the club of applicants waiting for Bitcoin ETF verdict, which includes Valkyrie, Grayscale, BlackRock and other top-tier asset managers.</p> 
<h2 id="toward-synergy-between-web3-and-classic-investments">Toward synergy between Web3 and "classic" investments</h2> 
<p>Besides being a highly eputable asset manager, Franklin Templeton is popular thanks to its crypto-friendly approach. In April 2023, it launched the OnChain U.S. Government Money Fund on the <a href="https://u.today/stellar-network-launches-first-us-mutual-fund-on-public-blockchain-details" rel="noopener noreferrer nofollow">Stellar (XLM)</a> distributed network through the Benji Investments app.</p> 
<p>This product was promoted as the pioneering mutual exchange-traded fund to leverage public blockchain technology for trackng transactions and share ownership.</p> 
<p>By the end of Q1, 2023, the fund amassed over $270 million in assets that highlighted the interest in using blockchains as technical platforms for fund products.</p>

Bitcoin ETF Saga: $1.5 Trillion Asset Manager Breaks In

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