SEC Puts Off its Decision on Franklin Templeton Spot Ethereum ETF Proposal
The US Securities and Exchange Commission (SEC) has prolonged the review period for an application submitted by investment firm Franklin Templeton to launch an Ethereum-based spot ETF.
The new deadline for a decision is June 11. By that date, the SEC will either approve or reject the application for the new product.
According to the SEC, it is necessary to extend the review period in order to have enough time to carefully consider the proposed rule change and address any relevant issues.
Franklin Templeton initially filed for an Ethereum ETF in February. The Form S-1 document reveals that Coinbase Custody Trust Company will serve as the custodian for the second-largest cryptocurrency by market capitalization, while Bank of New York Mellon will act as the custodian for the funds.
