The SEC has delayed its decision on the approval of the Franklin Templeton Crypto Index ETF until early 2025.
According to a filing dated November 20, the regulatory agency has stated no comments were received following the publication of a proposed rule change in the Federal Register on October 8, 2024, regarding the listing of the crypto index ETF.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
The SEC stated:
"The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein… Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates January 6, 2025, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove, the proposed rule change."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
Franklin Templeton had initially filed for a crypto index ETF with the SEC in August. Katalin Tischhauser, head of research at crypto bank Sygnum, has previously commented the introduction of crypto index ETFs would be the next logical step for the digital asset market.