Franklin Templeton seeks SEC approval for new crypto index ETFs, focusing on Bitcoin and Ether Franklin Templeton action to launch crypto indexes in the era of crypto-friendly Trump ETF. Four applications of CBOE File XRP ETF – Grayscale Bitcoin Mini Trust (BTC) Fraction Undivided Benefits (ARCA:BTC)

Asset management behemoth, Franklin Templeton Invests Bookis seeking regulatory approval to launch a new cryptocurrency exchange-traded fund (ETF).

what happened: Franklin Templeton filed an application with the U.S. Securities and Exchange Commission (SEC) for approval to launch a new crypto index exchange-traded fund (ETF).

“The fund may not currently own any digital assets other than Bitcoin and Ether. “It is not yet certain whether any digital assets can be taken in the future,” Franklin Templeton said in a regulatory filing Thursday. Add to the base index. ”

As of the filing date, the index consists of 86.31%. Bitcoin BTC/USD and 13.69% ether Ether/USD. However, the document will be “rebalanced and reorganized” in quarterly periods in March, June and December.

Franklin Templeton’s goal is to capitalize on growing interest in cryptocurrencies, a trend driven by the president Donald TrumpHis victory and his commitment to transform the United States into “the crypto capital of the world” and amassing the national Bitcoin protection zone.

The SEC earlier tried to limit ETFs from investor protection issues, GreenLit Bitcoin and Ether ETFs. This decision has enabled investors, including institutions, to gain more widespread access to Bitcoin.

See: Ethereum faces “hard competition” from Solana, struggling to compete with Bitcoin: jpmorgan

Why it matters: Franklin Templeton’s move comes at a time when the cryptocurrency market is experiencing major volatility. Despite the decline in global market cap, institutional adoption is still increasing, allowing Bitcoin investment at the state level.

Additionally, ETFs for other cryptocurrencies, including meme coins, may not be completely out of the desktop. As Bitwise Cio Matthew Hougan pointed out, this ETF will require a liquid, global distributed market with limited insider influence.

Additionally, on Thursday, Chicago’s CBOE Exchange filed four different applications with the SEC XRP XRP/USD ETF stands for WisdomTree, Bitwise, 21shares and Canary.

This shows that Franklin Templeton’s ETF, if approved, could pave the way for a wider range of encryption-based ETFs in the future.

Image via shutterstock

Disclaimer: The content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.