SEC approves first Bitcoin and Ethereum ETFs
The Securities and Exchange Commission (SEC) recently approved the first spot exchange-traded funds (ETFs) that track both Bitcoin and Ethereum. This is big news for cryptocurrency investors!
The Hashdex Nasdaq Crypto Index US ETF will be listed on Nasdaq, while the Franklin Crypto Index ETF will be listed on the Cboe BZX Exchange. These ETFs will hold a combination of Bitcoin and Ethereum, along with cash and cash equivalents, allocated based on their market capitalizations.
The Franklin Crypto Index ETF received accelerated approval, aligning it with similar funds approved in the past. The SEC ensured that the proposals met the requirements of the Securities Exchange Act to prevent fraud, manipulation, and protect investors.
Both ETFs are expected to launch in January with an 80% Bitcoin and 20% Ethereum split. It’s a significant step in making these popular cryptocurrencies more accessible to investors.
Keep an eye out for these ETFs and stay updated on the latest developments in the crypto world!
