SEC APPROVAL: FIRST DUAL BITCOIN-ETHEREUM ETFS FROM HASHDEX AND FRANKLIN TEMPLETON
The United States Securities and Exchange Commission (SEC) has approved dual Bitcoin and Ethereum exchange-traded funds (ETFs) from Hashdex and Franklin Templeton. The approvals offer investors access to Bitcoin and Ethereum through regulated financial instruments without investing directly.
Hashdex’s Nasdaq Crypto Index US ETF will trade on the Nasdaq exchange, while Franklin Templeton’s Franklin Crypto Index ETF will trade on the Cboe BZX Exchange. Both ETFs are designed to track Bitcoin and Ethereum prices in the spot market.
The SEC required these ETFs to have comprehensive market surveillance agreements in place to prevent market manipulation. This step is considered a significant development in the regulation of cryptocurrency markets and their integration with the mainstream financial system.
Despite the recent volatility in cryptocurrency markets, these approvals could boost investor confidence and give new momentum to the markets. Bitcoin and Ethereum prices showed slight declines following the approval news. Bitcoin is currently trading at around $93,795, while Ethereum is trading around $3,232.
This development solidifies the place of cryptocurrencies in financial markets and offers new opportunities for investors. Such steps by regulatory bodies pave the way for wider acceptance and adoption of crypto assets.
