Franklin Templeton became the latest asset manager to file with the Securities and Exchange Commission for a spot bitcoin ETF.
Dubbed the Franklin Bitcoin ETF, the fund's assets would consist primarily of bitcoin held in custody by Coinbase Custody Trust Company, according to an S-1 form filed Tuesday.
If approved, shares will be listed and traded on the Cboe BZX Exchange. For bitcoin pricing, the filing mentions use of CME's CF Bitcoin Reference Rate – New York Variant.
Although the industry is eagerly anticipating the first spot crypto ETF, the SEC has yet to approve one. The regulator last month moved to delay decisions on the existing proposals for spot bitcoin ETFs as it wades through a wave of recent applications.
Bitcoin's price gained on Tuesday, rising 2.6% to $26,294 at 10:03 a.m. ET, according to CoinGecko.
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