The SEC approved Hashdex and Franklin Templeton’s cryptocurrency index ETF proposals. Both are expected to begin trading on American stock exchanges in January.
The United States Securities and Exchange Commission (SEC) approved this Thursday the first index ETFs to combine both Bitcoin and Ethereum. Notably, the regulator gave the green light to ETFs proposed by Hashdex and Franklin Templeton to be traded on the Nasdaq and Cboe BZX Exchange, respectively.
Both products, called Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF will initially hold Bitcoin and Ethereum in spot.
“This means that the funds are likely to be offered with a roughly 80/20 split in favor of Bitcoin, the Bloomberg analyst estimated, Eric Balchunas. While there is no release schedule yet, the products are expected to debut in January.
“SEC approved spot bitcoin/ether ETFs (as predicted). They are likely to be released in January. They have a market cap weighting of approximately 80/20 BTC/ETH. It should be noted that Hashdex and Frankie were the first. Good for them,” the analyst wrote in a post on X on Thursday.
Franklin Templeton had sought SEC approval for its cryptocurrency index-based ETF in August, but the regulatory agency delayed the decision on November 20. For its part, the asset manager Hashdex, which initially advanced its proposal in June, presented its second amended application for such an ETF in late November.
The SEC approved the first ETFs with direct exposure to spot Bitcoin in January, and a few months later, in July, approved counterparties based on spot Ethereum.
Likewise, a series of applications for cryptocurrency spot funds were also submitted such as XRP and Solariumwith expectations that a friendlier SEC under the Donald Trump administration will give its go-ahead in 2025.
Source: Ambito
