Best Crypto to Buy Now September 12 – Kaspa, Optimism, Injective
One of the main crypto headlines today involves Franklin Templeton seeking regulatory approval for a Bitcoin ETF.
Financial services company Franklin Templeton filed an application on Tuesday for a Bitcoin exchange-traded fund (ETF), the latest major firm looking to bring a crypto ETF to market.
Given the latest developments on crypto-related ETFs, what are the best cryptos to buy now?
The proposed Franklin Bitcoin ETF would trade on the Cboe BZX Exchange and use Coinbase as its Bitcoin custodian, according to a filing with the Securities and Exchange Commission (SEC).
It would benchmark the CF Benchmarks Bitcoin Price Index, which aggregates pricing data across major cryptocurrency exchanges. Franklin Templeton, founded in 1947, declined to comment on the filing.
The asset manager joins BlackRock, Fidelity, and others in seeking regulatory approval for a Bitcoin ETF after a federal appeals court ruled unanimously last month that the SEC wrongly denied a Bitcoin ETF application from Grayscale.
The court said the denial was “inconsistent” with the SEC’s past approval of Bitcoin futures ETFs.
Industry observers have described the approval of a Bitcoin spot ETF as a “holy grail” that could draw substantial investments from traditionally conservative institutions.
The SEC has previously denied such proposals over concerns about potential manipulation in Bitcoin markets. To address those worries, BlackRock and Fidelity partnered with Nasdaq and NYSE respectively to monitor Bitcoin markets for manipulative activities.
Meanwhile, Franklin Templeton's filing did not mention plans for a surveillance partner.
Bitcoin prices briefly rallied above $31,000 following the BlackRock and Fidelity filings last month but have since declined from
Read more on cryptonews.com
