đ Buckle up, BTC enthusiasts! Investment giant Franklin Templeton, with a whopping $1.5 trillion AUM, is joining the race to launch a Bitcoin spot ETF in the U.S. market. đ According to an SEC filing, the Franklin Bitcoin ETF will issue shares representing fractional interests in its net assets, which primarily consist of Bitcoin held by custodian Coinbase Trust. đ Franklin is the 10th fund seeking SEC approval for a Bitcoin spot ETF, joining the likes of BlackRock, Ark, Fidelity, and more. đ With Grayscale's recent court win against the SEC, the chances of these ETFs getting the green light are looking brighter! đ However, Franklin's filing didn't mention a partner for a surveillance sharing agreement, which could be a hurdle for SEC approval. đ€ Stay tuned for more updates! đ°
