In a tale as old as time (or at least since the grand era of Trump), the illustrious Franklin Templeton has embarked on a whimsical journey to beguile the SEC with a crypto exchange-traded fund. 🎩
If the stars align and the SEC deems it worthy, the Franklin Crypto Index ETF shall grace the Cboe BZX Exchange with its presence, offering a delightful cocktail of Bitcoin and Ether, mixed to perfection by market capitalization. A veritable feast for the eyes of investors, or so they say.
The Quarterly Quandary of Crypto Rebalancing
As of the moment of this trivial filing, the index was a delightful 86.31% BTC and 13.69% ETH. A quarterly ritual, as predictable as the changing of the seasons, shall see this index rebalanced. A dance as old as time itself.
Hot on the heels of Bitwise’s own attempt at a Bitcoin and Ethereum ETF, Franklin Templeton throws its hat into the ring, hoping to catch the SEC’s fickle fancy.
The filing hints at a possible expansion of the Crypto Index ETF’s horizons, but only if the gods of regulation smile upon them. Alas, there’s “no assurance” in this world of digital assets.
The filing, a tome of caution, warns of the perils that lie ahead, including the menacing rise of other crypto tokens. Will they spell doom for the Franklin Crypto Index ETF? Only time, that fickle mistress, shall tell.
While the world holds its breath for a Solana ETF, the ever-so-wise ETF analyst James Seyffart suggests it might be as distant as 2026. The SEC, it seems, takes its sweet time in such matters.
A Day of Crypto Filing Follies
On this very day, the Cboe BZX Exchange played host to a cavalcade of asset managers, all vying for the honor of listing spot XRP ETFs. A spectacle, indeed.
The exchange, with a flourish, submitted 19b-4 filings for a quartet of spot XRP funds. A veritable smorgasbord of crypto delight, or so one might think.
This surge of crypto ETF applications, a direct descendant of Trump’s coronation and the SEC’s game of musical chairs, continues to captivate and confound.
The current acting SEC chair, Mark Uyeda, a apparent ally of the crypto cause, has enlisted a policy director from the crypto advocacy group Coin Center. A strategic move, or a mere token gesture? 🤔
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2025-02-07 04:17