The U.S. Securities and Exchange Commission (SEC) has received a filing from the global company Franklin Templeton, based in California, to introduce a spot Bitcoin exchange-traded fund (ETF). Franklin Templeton currently manages over $1.5 trillion in assets. The SEC has not yet approved any such fund.
Franklin Templeton has chosen Cboe BZX Exchange as the listing exchange, Bank of New York Mellon as the cash custodian and manager, and Coinbase as the fund's custodian. There hasn't been any reference to the product's symbol.
The company joins other businesses that have submitted applications for a spot Bitcoin ETF, such as BlackRock, the largest asset management in the world with more than $8 trillion in assets. The SEC has not yet approved a single Spot Bitcoin ETF.