The US Securities and Exchange Commission (SEC) has opened public comments on proposed ETFs from Franklin Templeton to be listed on the Chicago Board Options BZX Exchange.
ETF Filing Process
In a separate filing, the SEC announced that proceedings have begun that may allow the exchange to list and trade shares of the Franklin XRP ETF and Franklin Solana ETF. The Cboe BZX Exchange filed for a proposed rule change in March, but the commission delayed its decision until now, inviting the public to offer comments on the matter. "The institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved," said the SEC.
Changes in SEC Regulation
Under new Chair Paul Atkins, the SEC is altering its approach to regulating digital assets. The agency has refrained from several high-profile enforcement actions against cryptocurrency companies, potentially indicating a softening of policy. Currently, multiple investment firms, including Bitwise and ProShares, have also submitted applications for ETFs involving XRP and Solana.
Prospects for XRP and Solana Crypto ETFs
The publication of notices by the SEC in the federal register is expected to push the decision deadline for the Franklin Templeton ETFs by 35 days to July. While the SEC has already approved spot investment vehicles for Bitcoin and Ether, other companies are eager to be the first to be approved for tokens like XRP and Solana.
Public comments on the Franklin Templeton ETFs represent a significant step in the approval process for cryptocurrency investment vehicles, which may impact the future of the sector.
