SEC postpones decision on Franklin Templeton spot Ethereum ETF – ForkLog

The US Securities and Exchange Commission (SEC) has extended the review period for an application to launch an Ethereum-based spot ETF from investment firm Franklin Templeton. This is reported on the department’s website.

The next deadline is June 11. After this date, the SEC will have to either give the green light or reject the application to launch a new product.

“The Commission considers it appropriate to set a longer period for making a decision on the proposed rule change to allow it sufficient time to consider the proposed rule change and the issues raised in connection therewith,” the agency said.

Franklin Templeton filed to launch an Ethereum ETF in February. The Form S-1 document states that Coinbase Custody Trust Company will act as the custodian of the second largest cryptocurrency by capitalization, and Bank of New York Mellon will act as the custodian of the funds.

Previously, the SEC extended the period for considering a similar application from BlackRock.

Experts disagree on when the regulator will make a positive decision on Ethereum exchange instruments.

Some are betting on a May deadline for a number of applications, including from VanEck and Grayscale.

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