Launch of Two Hybrid Bitcoin-Ethereum ETFs Approved by US Securities and Exchange Commission

Hashdex and Franklin Templeton to Launch First Hybrid Bitcoin-Ethereum ETFs

The US Securities and Exchange Commission (SEC) has approved the launch of two hybrid exchange-traded funds (ETFs), which will provide investors with exposure to both Bitcoin and Ethereum in a single instrument. Hashdex, a leading digital asset investment platform, and Franklin Templeton have collaborated to bring forth these innovative products.

As reported by Crypto Economy, the Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF will be listed on the Nasdaq and Cboe BZX Exchange, respectively. These hybrid funds aim to offer investors a diversified exposure to the cryptocurrency market, with an approximate distribution of 80% Bitcoin and 20% Ethereum, based on the floating market capitalization of both assets.

The launch of these ETFs is a significant development in the crypto market, as it allows for increased access and adoption of digital assets within traditional financial markets. The approval of these products demonstrates the SEC’s recognition that hybrid funds can meet regulatory requirements established for commodity-based funds.

As Nate Geraci, president of ETF Store, noted, “These products will be well-received due to their ability to provide a much-desired alternative since crypto ETFs first appeared in traditional markets.”

Source: crypto-economy.com