In a surprising turn of events, the U.S. SEC has advanced its decision-making process regarding Franklin Templeton’s Bitcoin ETF application, which was not due until Jan. 1, 2024.
The watchdog punted the previous Nov. 15 deadline to Jan. 1, 2024, to allow for a more comprehensive review of the proposal’s alignment with regulatory standards, particularly concerning investor protection and market integrity.
In essence, the SEC appears to have effectively extended the deadline a month prior to the original decision date. This move could indicate that the regulator is affording Franklin additional time to revise its filing before further deadlines. Notably, Franklin Templeton is the only applicant who has not updated its S-1 form or addressed the prevalent concerns regarding potential market manipulation. The asset manager joined the spot Bitcoin ETF race in September and intends to list the fund on CBOE.
The early move has caught the attention of market observers, given that Franklin
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