SEC Puts Franklin Templeton's Ethereum ETF on Hold: Uncertainty Looms The U.S. Securities and Exchange Commission (SEC) has hit the pause button on Franklin Templeton's spot Ethereum ETF, extending the decision deadline to June 11, 2024. This unexpected news, disclosed in a recent filing, leaves investors in suspense.
The SEC cites the need for a deeper dive into the complexities of Ethereum's classification and suitability for an ETF. With Coinbase Custody Trust Company and Bank of New York Mellon as custodians, Franklin Templeton aims to track ether's price.
This delay echoes Grayscale's Ether Trust proposal setback earlier this year, hinting at a cautious regulatory approach. Meanwhile, industry titans Fidelity and BlackRock are also vying for a slice of the
cryptocurrency ETF pie.
While analysts initially eyed a May decision, expectations have been
dampened. Bloomberg's James Seyffart even questions whether these Ether ETF applications will see the light of day.
Despite the uncertainty, investor interest in crypto investment vehicles remains undeterred. The market craves more accessible ways to ride the digital asset wave,
even if regulators are pumping the brakes.
