SEC delays making a decision on Franklin Crypto Index ETF dubbed EZPZ
Quick Take
- Franklin Templeton in August filed a registration statement with the agency for the Franklin Crypto Index ETF that would hold both ether and bitcoin.
- The SEC decided to postpone deciding whether to approve, disapprove or “institute proceedings,” according to a filing on Wednesday.
The U.S. Securities and Exchange Commission pushed back the date to decide how to move forward with a proposal for a combined ether and bitcoin exchange-traded fund.
Investment firm Franklin Templeton previously filed a registration statement with the agency for the Franklin Crypto Index ETF in August that would hold both cryptocurrencies under the ticker EZPZ.
The SEC decided to postpone making a decision whether to approve, disapprove or "institute proceedings," according to a filing on Wednesday.
"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," the agency said.
The proposed Franklin Crypto Index ETF, if approved, would be listed on the Cboe BZX Exchange and use Coinbase Custody Trust Company LLC as its digital asset custodian.
The SEC's filing comes a day after spot bitcoin ETF options went live. Firms started trying to list and trade options for spot bitcoin ETFs after the SEC approved 11 spot bitcoin ETFs in January. The agency also approved spot Ethereum ETFs in May.
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