A Crypto First: Hybrid Spot Bitcoin-Ethereum ETFs From Hashdex and Franklin Templeton Approved by SEC 

The U.S. Securities and Exchange Commission (SEC) has given the green light to two cryptocurrency index exchange-traded funds (ETFs) from Hashdex and Franklin Templeton, heralding a new era for regulated crypto investments.

A Crypto First: Hybrid Spot Bitcoin-Ethereum ETFs From Hashdex and Franklin Templeton Approved by SEC 

SEC’s Approval Unleashes New Crypto ETFs

These ETFs blend exposure to both spot-based bitcoin (BTC) and ethereum (ETH), providing investors with a mix to tap into these top-tier cryptocurrencies. Hashdex‘s offering, the Nasdaq Crypto Index US ETF, will dance its way onto the Nasdaq stock market, tracking the pulse of the Nasdaq Crypto US Settlement Price Index.

On the other side, Franklin Templeton’s Crypto Index ETF will make its debut on the Cboe BZX Exchange, following the rhythm of the Institutional Digital Asset Index. Both funds are composed roughly 80% of bitcoin and 20% of ethereum, with the possibility of welcoming new assets into the fold in the future.

“Will be interesting to see if Blackrock or others attempt to piggyback on this and launch similar ETFs,” The ETF Institute co-founder Nate Geraci remarked after the SEC approved the two funds. “Regardless, I expect there will be meaningful demand for these products. Advisors LOVE diversification. Especially in an emerging asset class such as crypto.”

These ETFs work their magic by directly following the spot prices of bitcoin and ethereum stashed away in reserves, differing from the more complex futures-based products, offering investors an easier way to dive into the crypto world without the hassle of actually holding or managing the digital coins.

The nod of approval came after both companies tweaked their paperwork to align with regulations designed to keep fraud at bay and maintain market purity. Slated for a debut in January 2025, these products are expected to attract investor attention due to their straightforward structure and inclusion of both bitcoin and ethereum, potentially paving the way for additional offerings in the future.

20.12.2024
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