The US Securities and Exchange Commission (SEC) has opened public comments for two proposed cryptocurrency exchange-traded funds (ETFs) from asset manager Franklin Templeton. These ETFs are set to be listed on the Chicago Board Options BZX Exchange.
In separate filings on Tuesday, the SEC announced that it was instituting proceedings. These proceedings could potentially allow the US exchange to list and trade shares of the Franklin XRP ETF and Franklin Solana ETF. The Cboe BZX Exchange filed for a proposed rule change with the SEC in March to get approval for this investment vehicle. However, the regulator delayed its decision in April, and the initial deadline for a decision was pushed to Tuesday.
Notably, the SEC stated in both filings, “Institution of proceedings does not indicate that the commission has reached any conclusions with respect to any of the issues involved. Rather, the commission seeks and encourages interested persons to provide comments on the proposed rule change.”
The Tuesday notices have pushed the SEC’s deadline to approve or disapprove of the ETFs to late July. However, it’s important to note that this deadline could be further delayed at that time. This move by the SEC to open the proposals to public comments is a significant step in the regulatory process for these cryptocurrency ETFs. It allows various stakeholders, including investors, industry experts, and the general public, to voice their opinions on the proposed Franklin Templeton XRP and SOL ETFs. The outcome of these comments could potentially influence the SEC’s final decision on whether to approve the listing and trading of these ETFs on the Cboe BZX Exchange.
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