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Big News for Crypto: SEC Approves Combined Spot Bitcoin and Ethereum ETFs!
In a groundbreaking development, the Securities and Exchange Commission (SEC) has approved combined spot-based Bitcoin and Ethereum exchange-traded funds (ETFs) from Hashdex and Franklin Templeton. This significant approval signals a shift in the SEC’s stance towards cryptocurrencies, easing tensions with the industry.
The newly approved products will feature an 80/20 average weighting of Bitcoin and Ethereum, although it is possible for the ETFs to include other assets in the future. It is worth noting that Nasdaq and Cboe BZX filed amended proposals that adhered to strict standards, resulting in swift approval from the regulatory body.
Industry experts predict that these ETFs could be launched as early as January, according to Bloomberg analyst Eric Balchunas. This rapid development marks a significant turning point for the cryptocurrency market, which has been eagerly awaiting a clear indication of regulatory support.
The news sent shockwaves throughout the financial world, causing Bitcoin prices to surge and investors scrambling to understand the implications of this groundbreaking decision. As one of the most influential regulatory bodies in the US, the SEC’s approval carries immense weight, paving the way for further growth and mainstream adoption of cryptocurrencies.
It remains to be seen how these ETFs will impact the market in the coming months, but it is clear that this development has already sent a strong signal to investors and stakeholders alike.
Source: coinpedia.org
