BTC Rebounds: Another Major Player Applies for Bitcoin ETF, What Will SEC Decide?
$Bitcoin (BTC.CC)$ Franklin Templeton, also known as Franklin Templeton Investments, has filed a Bitcoin ETF application with the Securities and Exchange Commission (SEC) on September 12, following in the footsteps of BlackRock and Fidelity, sparking interest in the cryptocurrency community.
As a well-known asset management giant with over 60 years of history in investment management, Franklin Templeton has a fund management scale exceeding $1 trillion. The company plans to launch a fund named Franklin Bitcoin ETF, which will be listed on the Cboe BZX Exchange, a subsidiary of the Chicago Board Options Exchange (CBOE), and will be managed by Coinbase.
The traditional financial giants on Wall Street boosting their involvement in the cryptocurrency field have greatly enhanced market confidence, and the potential market for ETF funds is vast and its audiences extensive. However, more and more industry leaders betting on ETFs put pressure back on regulatory agencies such as the SEC.
The SEC has repeatedly extended the review period for ETF applications and remains concerned that Bitcoin's spot market may be prone to manipulation. How these industry leaders will dispel their concerns is worth keeping an eye on.
Meanwhile, the impact of the US dollar on the prices of tokens, with Bitcoin as its benchmark, has weakened in comparison to the previous month. However, if Franklin Templeton's ETF is approved and listed on the exchange, it would further consolidate the legitimacy and transparency of the cryptocurrency market and provide support for Bitcoin's steady rise.
As a well-known asset management giant with over 60 years of history in investment management, Franklin Templeton has a fund management scale exceeding $1 trillion. The company plans to launch a fund named Franklin Bitcoin ETF, which will be listed on the Cboe BZX Exchange, a subsidiary of the Chicago Board Options Exchange (CBOE), and will be managed by Coinbase.
The traditional financial giants on Wall Street boosting their involvement in the cryptocurrency field have greatly enhanced market confidence, and the potential market for ETF funds is vast and its audiences extensive. However, more and more industry leaders betting on ETFs put pressure back on regulatory agencies such as the SEC.
The SEC has repeatedly extended the review period for ETF applications and remains concerned that Bitcoin's spot market may be prone to manipulation. How these industry leaders will dispel their concerns is worth keeping an eye on.
Meanwhile, the impact of the US dollar on the prices of tokens, with Bitcoin as its benchmark, has weakened in comparison to the previous month. However, if Franklin Templeton's ETF is approved and listed on the exchange, it would further consolidate the legitimacy and transparency of the cryptocurrency market and provide support for Bitcoin's steady rise.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
