Ethereum

Franklin

The U.S. SEC postponed the application to open an Ethereum ETF from Franklin Templeton. 
According to <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-100015.pdf" target="_blank" rel="">a document</a> published on the regulator’s website, the Commission considers it appropriate to set a more extended period for action on the proposed rule change to give it sufficient time to consider the proposed rule change and its issues. 
The <a href="https://crypto.news/tag/sec/" target="_blank" rel="">SEC</a> must decide on Franklin Templeton’s application by June 11. 
<blockquote class="wp-block-quote"> 
 “The Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change.” <cite>SEC filing</cite>
</blockquote> 
 You might also like: <a href="https://crypto.news/fidelity-files-s-1-for-ethereum-etf/" rel=""> Fidelity files S-1 for Ethereum ETF </a> 
In February, Franklin Templeton&nbsp;<a href="https://crypto.news/franklin-templeton-enters-competition-to-introduce-spot-ether-etf/" target="_blank" rel="">filed</a> to register a spot in the Ethereum <a href="https://crypto.news/tag/etf/" target="_blank" rel="">ETF</a>. If approved, Coinbase Custody Trust Company will be the custodian of the second-largest cryptocurrency by capitalization. 
The product will be listed on the Chicago Board of Options BZX Exchange if approved. The structure uses only cash to create and redeem shares of ETF, similar to how it is&nbsp;implemented in <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a>-based instruments. 
Following the launch of the <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> ETF, several leading asset managers have filed applications to create spot ETFs on Ethereum. The deadline for the SEC’s final approval of <a href="https://crypto.news/tag/Ethereum/" target="_blank" rel="">Ethereum</a> spot ETF applications filed by <a href="https://crypto.news/tag/VanEck/" target="_blank" rel="">VanEck</a> and ARK/<a href="https://crypto.news/tag/21shares/" target="_blank" rel="">21Shares</a> is May 23. 
The Hong Kong Securities and Futures Commission (SFC) has <a href="https://crypto.news/hong-kong-approves-spot-bitcoin-ethereum-etfs-by-bosera-and-hashkey/" target="_blank" rel="">already approved</a> the launch of spot ETFs based on Ethereum. However, Bosera Asset Management, which received regulatory approval, did not disclose product tickers. 
 You might also like: <a href="https://crypto.news/sec-seeks-comments-on-three-spot-ethereum-etf-filings-analysts-not-bullish/" rel=""> SEC seeks comments on three spot Ethereum ETF filings, analysts not bullish </a>

SEC delays Franklin Templeton spot Ethereum ETF

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