Franklin

James

The United States Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s spot Ethereum ETF application, extending the deadline to June 11 for review and adding an extra 45 days, according to an SEC <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-100015.pdf" target="_blank" rel="noreferrer noopener" data-wpel-link="external">filing</a>. 
Analysts speculate that the SEC might decide on a spot Ether ETF in May, along with other asset managers’ applications. Bloomberg ETF analyst James Seyffart suggested that these Ether ETF applications could face rejection. 
In January, the SEC allowed spot Bitcoin ETFs, impacting crypto handling in finance. Despite expectations for a spot Ethereum ETF, Ether’s classification as a security may complicate matters. 
On Tuesday, the SEC delayed a similar proposal for the Grayscale Ethereum Trust, filed by Grayscale to convert it to a spot ether ETF alongside NYSE Arca in October, following their success with a spot bitcoin ETF conversion earlier. 
The SEC previously approved Templeton’s spot BTC ETF, and the firm, as of December 2020, manages assets worth over $1.5 trillion. This delay arises because of the regulatory authorities’ caution in assessing cryptocurrency investment products. 
This news highlights the SEC’s cautious approach towards crypto ETFs, with Ether’s status as a potential security complicating approval. The delay suggests continued uncertainty in the regulatory landscape for crypto investments. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/24/sec-seeks-public-input-on-blackrocks-ether-etf-proposal/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">SEC Seeks Public Input on BlackRock’s Ether ETF Proposal</a> 
</blockquote>

SEC Delays Franklin Templeton Ether ETF Decision to June 11

The Crypto Times

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