After six months of review, the U.S. SEC recently finally approved the first batch of mixed ETFs for Bitcoin and Ethereum, including the Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF. Analysts expect a very high market demand for such products in the future.
ETF Store President Nate Geraci stated on the social platform X yesterday (20) that after nearly six months of review, the U.S. Securities and Exchange Commission (SEC) has finally approved the mixed ETFs for Bitcoin and Ethereum from Hashdex (Hashdex Nasdaq Crypto Index US ETF) and Franklin Templeton (Franklin Crypto Index ETF).
Bloomberg Analyst: Expected to start trading in January
According to a report from Decrypt, based on SEC documents, the Hashdex Nasdaq Crypto Index US ETF will be listed on the Nasdaq, while the Franklin Crypto Index ETF will be listed on the Cboe BZX exchange. Additionally, the proportions of Bitcoin and Ethereum held by these two mixed ETF products will be calculated based on free-floating market capitalization. Furthermore, the SEC has stipulated that these two products must continuously meet listing requirements and maintain transparency in their portfolios and pricing; otherwise, they will be required to delist.
Additionally, a senior ETF analyst at Bloomberg also expects that these two products are expected to officially start trading in January next year, with Bitcoin accounting for 80% and Ethereum accounting for 20% in mixed investments, reflecting their current market values.
ETF Store President: Market demand is huge
In this regard, ETF Store President Nate Geraci also added that he expects a great demand for such products in the future, as investors prefer diversified portfolios. At the same time, after the initial launch of these two products, it will also be interesting to see if asset management giants like BlackRock will also introduce similar products, especially since the SEC has expressed satisfaction with the current application documents.
It will be interesting to see if BlackRock or other companies attempt to launch similar products.
In any case, I expect these products will have a huge market demand.
Advisors like diversification, especially in emerging asset classes like cryptocurrencies.
It is also worth mentioning that as early as June this year, Bloomberg analyst James Seyffart commented that launching such products in the U.S. is 'of great significance.'