Franklin Templeton has updated its application for a crypto ETF to track both Bitcoin (BTC) and Ethereum (ETH). This development involves the Franklin Crypto Trust, with the amended filing submitted to the Cboe BZX Exchange. The SEC had previously extended its decision period for the proposal on November 20, further delaying any final ruling.
About Franklin Templeton’s Crypto Index ETF
Analysts at Bloomberg indicate that dual crypto ETFs, including proposals from Franklin Templeton, Bitwise, and Hashdex, are strong candidates for approval in 2025. Optimism surrounding these filings has grown due to changes in regulatory leadership. Paul Atkins has been appointed as SEC chairman, and David Sacks has assumed the role of crypto czar. In addition, former President Donald Trump’s supportive stance on digital assets is seen as favorable for the industry.
Franklin Templeton’s ETF aims to mirror the CF Institutional Digital Asset Index, a benchmark tracking Bitcoin and Ethereum weighted by market capitalization. The fund’s holdings will consist of Bitcoin, Ether, cash, and cash equivalents. This approach ensures alignment with the index without diversifying into staking or income generated from forks or airdrops.
INTEL: SEC files for Franklin Templeton $BTC & $ETH Crypto Index ETF
— Solid Intel 📡 (@solidintel_x) December 19, 2024
In related news, Bitcoin price has remained above the critical $100,000 level despite market turbulence. The Federal Reserve recently announced a 25-basis-point rate cut, coupled with hawkish statements suggesting heightened inflation expectations for 2025. Federal Reserve Chair Jerome Powell also hinted at a limited number of rate cuts for the upcoming year, projecting only two reductions in 2025.
Market volatility has continued, but Bitcoin holding its ground above $100,000 signals potential resilience. Ethereum’s performance remains under close watch as ETF applications advance, with both assets likely influencing broader market dynamics.
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