$1.5 Trillion Asset Manager Franklin Templeton Files for US Bitcoin ETF

1 Mins read

In a move that further legitimizes Bitcoin in institutional finance, the global investment giant Franklin Templeton filed a regulatory Form S-1 with the U.S. Securities and Exchange Commission (SEC) on Monday, seeking approval for a spot Bitcoin ETF.

The development comes at a time when the race to launch the first US spot Bitcoin ETF is hotly contested, with entrants including incumbents like Fidelity and BlockRock, as well as upstarts like the Grayscale Bitcoin Trust (GBTC).

Franklin Templeton, managing approximately $1.5 trillion in assets, is looking to capitalize on the growing demand for Bitcoin investments. Their proposed ETF, if approved, would provide investors with a more accessible and regulated means to gain exposure to the world’s leading cryptocurrency. 

The filing outlines plans for the Franklin Templeton Digital Asset Trust, which aims to track the performance of Bitcoin.

Several other investment firms have submitted similar applications in recent years, but none have yet received SEC approval.

Still, over the past few years, Bitcoin has garnered attention as a store of value and a hedge against inflation, driving institutions to diversify their portfolios.

In their filing, Franklin Templeton highlighted the benefits of a Bitcoin ETF, such as improved liquidity and ease of trading for investors, without the need for them to directly hold and manage cryptocurrency assets. This approach is expected to be more appealing to conservative investors who are still hesitant about the complexities of Bitcoin custody and security.

However, the road to launching a Bitcoin ETF in the United States has been a challenging one, with the SEC consistently emphasizing the need for robust investor protections and market surveillance. Franklin Templeton’s application will be subject to a thorough regulatory review, which could take several months before a final decision is reached.

If approved, the Franklin Templeton Digital Asset Trust would join the growing list of cryptocurrency ETFs available to U.S. investors, including the many Bitcoin Futures ETFs now live on various ex

Source link

Related posts

Hare-Raising Profits: MOONHOP Presale’s 100x Gains Potential Blow Away Top Meme Coins Shiba Inu & PEPEExplore the latest meme coins market news about MOONHOP presale potential of 100x gains, Shiba Inu marketplace & PEPE price surge.

3 Mins read
Everyone in the meme coins market is buzzing over a certain bunny known as MOONHOP. Why? Because when this rabbit hops, it…

Arthur Hayes' Maelstrom Launches Bitcoin Grant Program to Boost Technical Development

1 Mins read
BitMEX co-founder Arthur Hayes’ crypto investment fund Maelstrom announced the launch of the Bitcoin Grant Program that aims to help with the…

Is It Too Late To Buy FIGHT? Fight To MAGA Price Soars 269% After Donald Trump Names JD Vance VP And This Might Be The Next Crypto To Explode

2 Mins read
Join Our Telegram channel to stay up to date on breaking news coverage The Fight To MAGA price surged 269% in the…



Leave a Reply

Your email address will not be published. Required fields are marked *