The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the approval of Franklin Templeton’s spot Ethereum exchange-traded fund (ETF). The new extension for the SEC’s determination is set for June 11, 2024. This action is one of the postponements that the SEC has implemented on numerous cryptocurrency ETF proposals in the last few months.
Franklin Templeton Ethereum ETF Delay
Franklin Templeton filed the initial S-1 registration statement for the Franklin Ethereum ETF in February 2024. The ETF is designed to track the cost of Ethereum, and Coinbase Custody Trust Company and the Bank of New York Mellon have been appointed as custodians.
The SEC postponed its decision because the commission requires more time to consider the proposed rule changes and any issues that may arise from them. The SEC said the extension would enable it “to take action on the proposed rule change so that it has enough time to consider the proposed rule change and the issues raised t
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