On December 19, the US Securities and Exchange Commission (SEC) approved the issuance of dual cryptocurrency ETFs based on Bitcoin and Ethereum.$BTC

The regulator gave the go-ahead to create new derivatives to Hashdex and Franklin Templeton. Unlike single exchange-traded funds, dual ETFs track the dynamics of changes in the exchange rate of two coins (BTC and ETF), and their issuers must buy both Bitcoin and Ethereum before issuing units.

Franklin Templeton employees filed an amended application to create a dual ETF with the SEC on December 18. In other words, the organization's proposal was approved literally in a day. Officials explained this by the fact that in its structure, the dual derivative is not much different from the single funds based on BTC and ETH, approved this year. In addition, both products comply with the criteria of the Exchange Act, which requires creators of financial instruments to use mechanisms to combat fraud and market manipulation to protect the rights of investors and traders.

Nate Geraci, president of the consulting firm The ETF Store, suggested that other organizations that have developed cryptocurrency ETFs may follow the example of Hashdex and Franklin Templeton. $1000CAT $SFP #2024withBinance