Franklin Templeton Enters Bitcoin ETF Competition

Franklin Templeton has filed for a spot bitcoin exchange-traded fund (ETF), joining other traditional asset management firms in the race. The proposed ETF would be custodied by Coinbase and trade on Cboe BZX Exchange. While Franklin Templeton is a top name in structured investment products, this is its first filing for a bitcoin ETF. However, other firms like BlackRock, WisdomTree, and Fidelity are further along in the SEC's bureaucratic procedure. The regulator is expected to make a decision on these filings in mid-October, but delays are possible.