BTC

$1.5 Trillion Franklin Templeton Files for Spot Bitcoin ETF

by BSCN

September 12, 2023

Following the trend of cryptocurrency ETF applications, Franklin Templeton, which boasts some $1.5 in assets under management, has filed for a spot Bitcoin ETF.

On Tuesday September 12, financial giant, Franklin Templeton, filed for a spot ETF that would directly hold Bitcoin (BTC).

Franklin Templeton is simply the latest in what appears to be an ever-growing list of high-profile financial institutions vying for approval of their own spot ETF for Bitcoin (BTC). Said list already includes blue chip names such as BlackRock, Fidelity, and Invesco.

Though there is yet to emerge a confirmed ticker for the ETF, Coinbase has been proposed as the crypto custodian, with Bank of New York Mellon to custody the trust’s cash.

Though the list of applicants seems to grow by the week, the number of SEC-approved spot BTC ETFs remains at precisely zero. Time will tell if Gary Gensler and the SEC will ever reverse on what appears to be their aggressive vendetta against the cryptocurrency industry.

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