The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the approval of the Franklin Templeton Crypto Index ETF until early 2025, Cointelegraph reported.
The SEC said in a Nov. 20 letter that it decided to extend its review time because it received no comments after publishing the proposed rule change on Oct. 8, 2024. The SEC set a deadline of Jan. 6, 2025, to approve or disapprove the proposal.
Franklin Templeton filed for a crypto index ETF in August. Katalin Tischhauser, head of research at Sygnum crypto bank, called a crypto index ETF the “next logical step” for the digital asset market.
The New York Stock Exchange and Grayscale are also looking to launch a crypto index ETF. Approval of a Grayscale ETF would be the first of its kind in the U.S. and could bring in new capital inflows.