Franklin Templeton, a $1.5 Trillion Asset Manager, Submits US Bitcoin ETF Application

In a significant move that adds further credibility to Bitcoin in the realm of institutional finance, global investment giant Franklin Templeton has filed a regulatory Form S-1 with the U.S. Securities and Exchange Commission (SEC) to seek approval for a Bitcoin exchange-traded fund (ETF). This development comes at a time when the race to launch the first spot Bitcoin ETF in the United States is highly competitive, with players such as Fidelity, BlockRock, and the Grayscale Bitcoin Trust (GBTC) vying for the top spot.

With approximately $1.5 trillion in assets under management, Franklin Templeton aims to capitalize on the increasing demand for Bitcoin investments. If approved, their proposed ETF would provide investors with a regulated and more accessible avenue to gain exposure to the leading cryptocurrency in the world. The filing outlines the establishment of the Franklin Templeton Digital Asset Trust, which seeks to track the performance of Bitcoin.

While several other investment firms have submitted similar applications in recent years, none have received SEC approval thus far. Nevertheless, Bitcoin has gained attention as a store of value and a hedge against inflation over the past few years, prompting institutions to diversify their portfolios.

In their filing, Franklin Templeton emphasizes the advantages of a Bitcoin ETF, including enhanced liquidity and ease of trading for investors, without the need for direct ownership and management of cryptocurrency assets. This approach is expected to appeal to conservative investors who may still be wary of the complexities surrounding Bitcoin custody and security.

However, the path to launching a Bitcoin ETF in the United States has been challenging, with the SEC consistently emphasizing the importance of robust investor protections and market surveillance. Franklin Templeton’s application will undergo a thorough regulatory review, which could take several months before a final decision is reached.

If approved, the Franklin Templeton Digital Asset Trust will join the growing list of cryptocurrency ETFs available to U.S. investors, including the various Bitcoin Futures ETFs currently live on different exchanges.

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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