US SEC solicits public comment on two Bitcoin ETF listing applications

Public comments are standard procedure

The US SEC has announced that it will be soliciting public comments on Franklin Templeton and Hashdex’s application to list the physical Bitcoin ETF.

Regarding Franklin Templeton’s application, the SEC postponed its decision on whether or not to proceed with the initial examination on November 18th. He said that an announcement regarding the approval or rejection of the plan is expected to be made again in early January next year, and that further analysis is necessary before then.

Mainly, if the ETF is approved, it will solicit comments from market participants about the fund’s relationship with custodian Coinbase, as well as concerns about market manipulation.

The filing also states, “The initiation of a public comment process does not indicate that the SEC has reached any conclusion on any matter to which it relates,” and set a 21-day public comment period.

Franklin Templeton’s Bitcoin ETF listing application was filed in September with the aim of listing on the Cboe BZX exchange.

connection:Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

connection: Discussions with US SEC continue despite successive postponements of decision on whether to launch Bitcoin ETF

James Seyffart, an ETF expert, speculated on social media that the SEC’s public comment may be coming sooner than expected, and that there is a possibility that ETF approval is accelerating.

Update: Wow. SEC went super early on Franklin. They weren’t due for another decision until Jan 1. Notably Franklin is the only issuer who didn’t submit an updated S-1 yet. Wonder if that has any impact here. https //t.co/go4K1wSTpw pic.twitter.com/bA6aULvPCd

— James Seyffart (@JSeyff) November 28, 2023

Hashdex futures ETF conversion

Also, Franklin Templeton is not the only target of public comments.

There will also be a public comment period for Hashdex’s application to convert from a Bitcoin futures ETF to a physical ETF. The SEC also postponed its decision until mid-November.

connection: BlackRock also meets with SEC to apply for listing of Bitcoin ETF

Bitcoin ETF review list Source: Bloomberg Intelligence

Bitcoin ETF special feature

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