Franklin Templeton Joins Wall Street Giants in Pursuit of Launching America's First Spot Bitcoin ETF

Franklin Templeton, a financial behemoth managing more than $1.5 trillion in assets, has applied to the U.S. Securities and Exchange Commission (SEC) to launch America's inaugural spot Bitcoin ETF. This places them alongside Wall Street giants like BlackRock and Fidelity, who have also filed for similar products that would enable Americans to invest directly in Bitcoin without holding the actual cryptocurrency.The fund manager has filed a Form S-1 with the SEC, seeking approval to list its Franklin Bitcoin ETF on the Cboe BZX Exchange. The document specifies Coinbase as the brokerage partner and custodian for the Bitcoin assets and suggests that the Bank of New York Mellon would manage the fund's cash reserves.Historically, the SEC has been hesitant to approve spot Bitcoin ETFs due to concerns about market manipulation. Instead, it has
#Bitcoin, #BitcoinETF, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #ETF, #News, #SEC
First found on: Franklin Templeton Joins Wall Street Giants in Pursuit of Launching America's First Spot Bitcoin ETF