Crypto ETFs in sight? The SEC has just opened the comment period for Franklin Templeton's XRP and Solana ETF proposals. This step marks the beginning of a process that could allow the CBOE (Chicago Board Options Exchange) BZX to list and trade these ETFs on its market. Investors and the general public now have the opportunity to provide their feedback on these proposals before the SEC makes a final decision that is highly anticipated by the market (and the fanboys!).
The SEC has opened the comment period for Franklin Templeton's XRP and Solana ETF proposals.
This crucial step allows for gathering opinions before a highly anticipated final decision by the market.
The SEC opens the comment period for Franklin Templeton's XRP and Solana ETFs
The SEC has therefore opened the comment period for Franklin Templeton's XRP and Solana ETF proposals, allowing the public to provide feedback on these financial products before the regulator's decision. This step is crucial as it allows Paul Atkins' teams to gather additional information and better understand the implications of these ETFs for the market.
Franklin Templeton, a leading asset manager, initially filed these proposals last March. However, the SEC delayed its decision in April, thus pushing the deadline to today. With this new comment period, the SEC gives itself an additional 35 days to review the filings.
The SEC seeks to gather opinions before making a final decision
The opening of this comment period does not mean that the SEC has already made a decision. On the contrary, the agency seeks to gather opinions and additional information to assess the potential risks and benefits of these ETFs. The commission stated that it has not yet drawn conclusions on the issues raised by these proposals.
Franklin Templeton's XRP and Solana ETFs are particularly watched, as they could pave the way for other cryptocurrency-based ETFs. So far, the SEC has approved ETFs for Bitcoin and Ethereum but not for other cryptocurrencies, and many are eagerly awaiting a response!
This opening to public consultation comes at a time when the SEC, under the leadership of Paul Atkins, has adopted a more conciliatory approach towards digital assets. The agency has recently dropped several lawsuits against crypto companies, marking a change in tone from the previous administration.
However, even though the SEC seems more open to the sector, there is no guarantee that these ETFs will be approved, and it could still decide to reject these proposals if it believes that the risks to investors are too high.
