{"id":84385,"date":"2023-09-12T17:57:20","date_gmt":"2023-09-12T14:57:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84385"},"modified":"2025-09-12T17:02:22","modified_gmt":"2025-09-12T14:02:22","slug":"franklin-templeton-files-for-a-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/franklin-templeton-files-for-a-spot-bitcoin-etf\/","title":{"rendered":"Franklin Templeton files for a spot Bitcoin ETF"},"content":{"rendered":"<p>Asset-management firm Franklin Templeton <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1992870\/000113743923001074\/ftdhts1092023.htm\">filed<\/a> an application with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> to register a spot <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> based on the leading cryptocurrency.<\/p>\n<p>The product, named the Franklin Bitcoin ETF, will consist predominantly of Bitcoin held in custody by Coinbase Custody Trust Company.<\/p>\n<p>If approved, the investment vehicle would be launched on the Cboe BZX exchange. The benchmark would be CF Bitcoin from the Chicago Mercantile Exchange.<\/p>\n<p>The San Mateo-based firm is a leader in the structured products segment. Total assets under management at Franklin Templeton <a href=\"https:\/\/investors.franklinresources.com\/news-center\/press-releases\/press-release-details\/2023\/Franklin-Resources-Inc.-Announces-Month-End-Assets-Under-Management-e6de797d7\/default.aspx\">amount to about $1.4 trillion<\/a>.<\/p>\n<p>The firm has joined other players in the race for a Bitcoin ETF. On July 14, the SEC <a href=\"https:\/\/forklog.com\/en\/news\/sec-takes-up-review-of-spot-bitcoin-etf-applications\">began reviewing<\/a> applications from BlackRock, VanEck, Fidelity Investments, Invesco and WisdomTree.<\/p>\n<p>To date, the regulator has granted no approvals for spot Bitcoin ETFs. The Commission has approved only futures-based products on the leading cryptocurrency from <a href=\"https:\/\/forklog.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\">ProShares<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\">Valkyrie Investments<\/a>.<\/p>\n<p>On August 31, the agency <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-slips-below-26000-as-sec-decision-on-bitcoin-etfs-weighs-on-markets\">delayed making a decision<\/a> on the applications at least until mid-October. The SEC&#8217;s decision sent the price of Bitcoin plunging below $26,000.<\/p>\n<p>In total, the regulator has 240 days to respond from the start of the review process.<\/p>\n<p>Earlier, Bloomberg analysts James Seyffart and Eric Balchunas <a href=\"https:\/\/forklog.com\/en\/news\/bloomberg-analysts-raise-odds-of-a-spot-bitcoin-etf-this-year-to-75\">assessed<\/a> the likelihood of launching a spot Bitcoin ETF by the end of 2023 at 75%. Analysts raised the odds after <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-price-surpasses-27500-after-court-ruling-in-grayscales-favour\">Grayscale&#8217;s legal victory<\/a> in its case against the SEC.<\/p>\n<p>As reported, former SEC staff attorney John Reed Stark <a href=\"https:\/\/forklog.com\/en\/news\/ex-sec-lawyer-rules-out-approval-of-spot-bitcoin-etf\">ruled out<\/a> approval of a spot Bitcoin ETF. However Bernstein analysts <a href=\"https:\/\/forklog.com\/en\/news\/bernstein-sees-high-odds-of-spot-bitcoin-etf-approval\">noted<\/a> the odds of a new wave of contenders as high.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The investment company Franklin Templeton filed with the SEC to register a spot Bitcoin ETF.<\/p>\n","protected":false},"author":1,"featured_media":84386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,1383,1211],"class_list":["post-84385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-franklin-templeton","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84385"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84385\/revisions"}],"predecessor-version":[{"id":84387,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84385\/revisions\/84387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84386"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}