SEC Approves Two Bitcoin-Ethereum ETFs from Hashdex and Franklin Templeton
The SEC has approved Bitcoin-Ethereum ETFs by Hashdex and Franklin Templeton, enhancing institutional access to major cryptocurrencies through spot-based investment tools.
SEC Approves Two Bitcoin-Ethereum ETFs from Hashdex and Franklin Templeton
The U.S. Securities and Exchange Commission (SEC) has approved two spot-based Bitcoin-Ethereum ETFs: Hashdex Nasdaq Crypto Index US ETF and Franklin Templeton Crypto Index ETF. These approvals mark a significant milestone in providing institutional investors with easier access to Bitcoin and Ethereum, the two largest digital assets.
Key Highlights
- Hashdex Nasdaq Crypto Index US ETF and Franklin Templeton Crypto Index ETF are the first SEC-approved Bitcoin-Ethereum ETFs.
- Franklin Templeton’s updated filing, submitted earlier today, was approved swiftly, aligning with current commodity-based trust-sharing standards.
- The decision comes amid heightened crypto market volatility, with over $1 billion liquidated in 24 hours, according to CoinGlass.
Crypto Market Performance Amid ETF Approval
The ETF approval coincided with a sharp downturn in the crypto market:
- Bitcoin (BTC): Dropped over 10%, from $105,000 to under $96,000.
- Ethereum (ETH): Declined by 15%, now trading at $3,409.
- Solana (SOL): Lost 15%, currently priced at $195.
The approval aligns with Bloomberg analysts' recent predictions regarding the likelihood of Bitcoin-Ethereum ETF authorization.
Future Prospects for Crypto ETFs
- Litecoin (LTC): Analysts speculate that Litecoin could be the next candidate for ETF approval due to its classification as a Bitcoin fork and commodity-like attributes.
- Solana (SOL) and XRP: Regulatory uncertainty may delay ETF approvals for these assets.
The SEC’s leadership transition in 2025 under Paul Atkins may bring a more favorable regulatory environment for cryptocurrency ETFs.
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