Regulatory Shift: US Securities and Exchange Commission Approves Combined Spot Bitcoin and Ethereum ETFs

Big News for Crypto: SEC Approves Combined Spot Bitcoin and Ethereum ETFs!

In a groundbreaking development, the US Securities and Exchange Commission (SEC) has approved the combined spot Bitcoin and Ethereum exchange-traded funds (ETFs) from Hashdex and Franklin Templeton. This historic decision marks a significant shift in the regulatory landscape for the cryptocurrency industry.

The approved products, namely the Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF, will feature an 80/20 average weighting of Bitcoin and Ethereum, allowing them to track the performance of both cryptocurrencies simultaneously. The ETFs may also include other assets in their portfolio going forward.

It is worth noting that Nasdaq and Cboe BZX filed amended proposals that adhered to strict standards, enabling a swift approval from the regulatory body. This rapid turnaround has sparked excitement among market participants, with Bloomberg analyst Eric Balchunas predicting that these ETFs could launch as early as January 2025.

The SEC’s approval of these combined spot Bitcoin and Ethereum ETFs is a significant turning point for the industry, signaling a change in the regulatory stance towards cryptocurrency. The move has been met with widespread enthusiasm, as it paves the way for greater institutional investment into the space.

Stay tuned for more updates on this developing story!

Source: coinpedia.org