SEC approves two cryptocurrency ETFs, promoting new investment opportunities in Bitcoin and Ethereum

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The U.S. Securities and Exchange Commission (SEC) recently approved two Bitcoin/Ethereum combination exchange-traded funds (ETFs) proposed by Hashdex and Franklin Templeton. The approval statement noted that these products are "substantially similar" in structure to the spot Bitcoin and Ethereum ETFs previously approved by the SEC.

ETF Store President Nate Geraci said it is worth noting that other issuers, including financial giant BlackRock, may launch similar products after SEC approval. He predicted that these ETFs will be widely in demand, especially for financial advisors who are looking for diversified investment products. These ETFs are weighted by market capitalization, and Bitcoin accounts for about 80% of the allocation in the two products.

Bloomberg's Eric Balchunas revealed that these newly approved ETFs are expected to be officially launched in January next year. In addition, the SEC approved multiple Bitcoin ETFs earlier this year, which laid the foundation for further gains in the cryptocurrency market. According to U.Today, the total holdings of U.S. Bitcoin ETFs have now exceeded Satoshi Nakamoto.

Although the Ethereum ETF listed in July had a mediocre initial performance, the inflow of funds has continued to increase, and has recently recorded positive inflows for two consecutive weeks. At the same time, there is a wave of applications for other cryptocurrency ETFs, and some issuers are scrambling to launch ETFs based on Solana, but the SEC said that it will not approve these altcoin ETFs at present.

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