Kenne Michael 
In light of the delay in decision-making by the US Securities and Exchange Commission (SEC) regarding the spot Bitcoin Exchange Traded Fund (ETF) proposed by Franklin Templeton, the responsibility now shifts to the next deadline.
Moreover, the SEC provided the Franklin Templeton update well before the Jan. 1, 2023 deadline.
Does this imply that Bitcoin ETF filings on the spot are being streamlined in preparation for widespread approval?
Requests for Public Feedback on Franklin Templeton Application
The SEC had previously solicited public feedback regarding Franklin Templeton’s proposed spot ETF filing.
The agency announced in an order dated Nov. 28, 2023, that it was commencing proceedings to ascertain the merits of endorsing or disapproving the proposed rule change to include Franklin Bitcoin ETF in the list.
However, this coincides with the decision-making delay regarding filing Bitcoin exchange-traded funds (ETFs) by various firms, including Blackrock and Fidelity.
Regarding the preponed update on Franklin Templeton’s filing, James Seyffart, an analyst at Bloomberg, believes there is more to it than initially appears.
In the wake of the announcement regarding the Franklin delay, the US SEC provided a comparable update regarding the Hashdex ETF filing.
Meanwhile, the Commission initiated a public comment period regarding the Hashdex Bitcoin Futures ETF filing.
Spot Bitcoin ETF Decisions Are About to Come in Full Wave?
As per James Seyffart, should the SEC render an extremely early decision on Franklin Templeton and Hashdex, it could potentially pave the way for a substantial influx of approvals beginning in January 2024. He stated,
“This delay on Hashdex all but confirms for me that this was likely a move to line every applicant up for potential approval by the Jan. 10, 2024 deadline.”
Nevertheless, he cautioned that approvals might be granted in the absence of an immediate launch.
Additionally, the Bloomberg analyst indicated that the applications might be denied before the Jan. 10, 2024 deadline.
On the other hand, the crypto market became more optimistic following reports that Blackrock representatives met with US SEC officials on the spot ETF filing surfaced.