Close Menu
    Bitcoin

    SEC Approves Bitcoin and Ether Index ETFs by Hashdex and Franklin Templeton

    By No Comments3 Mins Read
    HI, K Launch Funding For Court Case vs. SEC, building, headquarters, law, rule, regulation, The U.S. Securities and Exchange Commission, USA, United States, ETF

    30s Summary

    The US Securities and Exchange Commission (SEC) has given approval for Hashdex and Franklin Templeton to launch Bitcoin/Ether index exchange-traded funds (ETFs). Hashdex’s ETF will be available on Nasdaq, while Franklin’s will be listed on the Cboe BZX Exchange. Both firms have attempted to approve their crypto ETFs previously. The approval could influence other firms to launch similar ETFs. Additionally, NYSE Arca has recently requested to list a Bitwise ETF that holds Bitcoin and Ether.

    Full Article

    Good news for crypto fans! Two big names in the finance world – Hashdex and Franklin Templeton – have just got the go-ahead from the US Securities and Exchange Commission (SEC) to launch their Bitcoin and Ether index exchange-traded funds (ETFs).

    According to an announcement on December 19, Hashdex’s new Nasdaq Crypto Index US ETF will be available to trade on the Nasdaq stock market. Meanwhile, the Franklin Crypto Index ETF is headed for the Cboe BZX Exchange.

    What’s cool about these indexes is that they’ll both hold Bitcoin and Ether, two of the biggest cryptocurrencies out there. The Franklin one specifically tracks an index that represents how digital assets like Bitcoin and Ether are doing, while Hashdex’s ETF tracks the same cryptocurrencies based on the Nasdaq Crypto US Settlement Price Index.

    Interestingly, the SEC fast-tracked Franklin Templeton’s proposal, meaning they approved it quickly. Both approvals were granted since the proposed structures were pretty similar to previous ones that the SEC has already approved.

    Nate Geraci, the head of The ETF Store, an investment company specializing in ETFs, thinks this decision could shake things up in the finance world. He tweeted that it would be interesting to see if other firms, like BlackRock, would follow suit and launch their own similar ETFs. He expects there’ll be a lot of demand for these products because they provide a way to diversify investments within the emerging crypto market.

    This isn’t a first-time event for Franklin Templeton – they actually applied to the SEC for approval of its crypto index ETF back in August, but the decision was postponed until now. On the other hand, Hashdex has been trying to get approval for their ETF too, submitting multiple proposals, until they finally got the thumbs up from the SEC.

    These are not the only firms making moves to launch a crypto index ETF. NYSE Arca – another exchange platform – also put in a request recently to list a Bitwise ETF that holds both Bitcoin and Ether. In addition, they’ve shown interest in launching an ETF holding assorted cryptocurrencies. It seems the crypto market is heating up and it’ll be interesting to see where it goes next!

    Related Posts