SEC Requests Comments on Franklin Templeton and Hashdex Spot Bitcoin ETFs

The SEC has released an update on its evaluation of the proposed Franklin Templeton and Hashdex spot BTC exchange-traded fund (ETF) applications.

They have requested written comments on both proposals, seeking input on whether to approve or deny the applicants’ Forms 19b-4. A Form 19b-4 is a public disclosure that is approved by the SEC Trading and Markets Division, separate from the Form S-1, which is the offering prospectus that requires approval from the Corporate Finance Division.

Interested parties have 35 days from the publication in the Federal Register to provide comments and responses.

The requests relate to the proposed rule changes, which are essentially applications, to allow the ETFs to be traded.

The applications were filed in September and the Hashdex ETF would be listed on the New York Stock Exchange Arca, while Franklin Templeton’s would be on Cboe BZX. The SEC has extended its deadline for making a decision on the applications to November 15.

The SEC’s questions focus on concerns surrounding the potential approval of the ETFs.