SEC Approves Combined Bitcoin and Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) has approved Hashdex and Franklin Templeton’s Bitcoin and Ethereum ETF portfolio. The move expands institutional access to the two largest cryptocurrencies through a spot investment vehicle.
The Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF have received regulatory clearance, with the latter benefiting from expedited review.
Bitcoin and Ethereum ETFs approved after consecutive delays
Franklin Templeton’s updated ETF filing earlier today received faster approval due to compliance with established commodity-based fiduciary standards.
according to ArchiveThe SEC later approved rule changes proposed by Nasdaq and Cboe BZX to facilitate the listing and trading of these funds.
“Just received SEC approval for the Hashdex Cryptocurrency Index ETF. Initially it will only include BTC and ETH, but will expand to other assets over time…including XRP!” explain Popular artist Chad Steingraber.
Hashdex has Initially apply for its ETFs June, but the SEC postpone its decision twice citing regulatory reviews. Analysts believe an impending leadership change in Washington could hasten the recent approval.
“Likely January launch. Their market weight is capped at around 80/20 BTC/ETH. Notably, Hashdex and Frankie are number one. Good for them,” ETF analysts wrote Eric Balciunas.
At the same time, the approval of these ETFs comes at a volatile time for the cryptocurrency market. As BeinCrypto reported earlier, Over $1 Billion in Cryptocurrency Liquidations occurred within the past 24 hours,
Bitcoin prices fell more than 8% today, falling from $105,000 to under $96,000.
Is a Litecoin ETF next?
Earlier this week, Bloomberg analysts predicted that a dual Bitcoin and Ethereum ETF would be authorized, a prediction that immediately became a reality. According to their predictions, SEC to approve Litecoin ETF next.
Although the demand for LTC from institutional investors may not be large, Litecoin is a fork of Bitcoin and potential goods under U.S. regulations.
However, other popular assets such as Solana and XRP ETF. With Paul Atkins taking over, the U.S. Securities and Exchange Commission (SEC) may take a more favorable stance on crypto ETFs. Recent developments in the SEC suggest that a shift is already underway.
Yesterday, the Senate Banking Committee Rejects renomination of Commissioner Carolyn Crenshaw. She has been an outspoken supporter of the SEC Chairman Gary Gensler’s Anti-Crypto Agenda. Crenshaw’s term ends in January, leaving a vacancy in the agency’s leadership.
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