Bitcoin Price Set for Movement? Franklin Templeton Files Crypto Index ETF
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Bitcoin (BTC), the leading and most valuable cryptocurrency in the world, recovered its recent losses and regained its strength above the $59,000 level, hitting an intra-day high of $59,828.
Franklin Templeton’s S-1 application for a crypto index ETF explains Bitcoin’s bullish rally. This move signals growing institutional interest, boosting demand and credibility for Bitcoin.
Bitcoin Price (BTC) Rose 1.3% While Ether Price (ETH) Rose 1.7%
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Meanwhile, the upticks in BTC were further bolstered by Goldman Sachs’ $419 million Bitcoin investment, signalling strong institutional confidence.
Moreover, Crypto.com’s UEFA sponsorship enhances crypto’s global visibility, while Rollblock’s record growth and potential 100x returns highlight increasing interest, supporting BTC’s upward momentum in the broader market.
Franklin Templeton has filed an S-1 registration statement with the SEC for a new exchange-traded fund (ETF) called the “Franklin Crypto Index ETF.”
This ETF aims to provide investors exposure to Bitcoin (BTC) and Ethereum (ETH) by tracking the CF Institutional Digital Asset Index.
Initially, the ETF will focus on BTC and ETH, with plans to potentially include other cryptocurrencies based on regulatory and market conditions.
Coinbase Custody Trust Company will manage the fund’s digital assets, while Bank of New York Mellon will oversee cash holdings and administrative duties. If approved, the ETF will be
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