Franklin Templeton has submitted an application for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). If approved, the ETF’s shares will be traded on the Cboe BZX Exchange, showcasing how the crypto industry is complementing the conventional financial sector. This is notable as Franklin Templeton has never applied for a Bitcoin ETF before. The application references the New York Variant of the Bitcoin Reference Rate maintained by the CME. The crypto industry’s future regarding Bitcoin spot ETFs remains uncertain, as U.S. SEC Chair Gary Gensler did not reveal any plans during a Senate hearing. In other news, HSBC reportedly collaborates with the crypto custody technology firm Fireblocks, and the cryptocurrency market experiences volatility following FTX’s upcoming sale of its crypto holdings.
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