Franklin Templeton, a $1.4 trillion asset manager, has announced its intention to launch a spot bitcoin exchange-traded fund (ETF). The proposed Franklin Bitcoin ETF would be listed on the Cboe BZX Exchange and backed by bitcoin held by Coinbase Custody Trust Company. This move by Franklin Templeton comes shortly after Grayscale’s court victory against the SEC, which has increased the likelihood of the SEC approving a spot bitcoin ETF. Some industry experts believe that a spot bitcoin ETF could be approved as early as the end of this year or by the end of 2024.
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