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The SEC has approved combined Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton. This move expands combined institutional access to the two largest cryptocurrencies via spot-based investment vehicles.
The Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF received regulatory clearance, with the latter benefiting from an expedited review.
Franklin Templeton’s updated ETF filing, submitted earlier today, secured faster approval due to its alignment with established commodity-based trust standards.
According to the filing, the SEC approved rule changes proposed by Nasdaq and Cboe BZX to facilitate the listing and trading of these funds.
Hashdex had originally filed for its ETF in June, but the SEC postponed its decision twice, citing regulatory deliberations. Analysts suggest that upcoming leadership changes in Washington may have accelerated the recent approvals.
Meanwhile, the green light for these ETFs coincides with a volatile period in crypto markets. As BeinCrypto reported earlier, over $1 billion in crypto liquidations occurred within the last 24 hours,
Bitcoin’s price dropped by more than 8% today, falling from $105,000 to below $96,000.
Earlier this week, Bloomberg analysts predicted the authorization of dual Bitcoin and Ethereum ETFs, which immediately became true. According to their projections, the SEC would next approve Litecoin ETFs.
While there might not be significant demand for LTC among institutional investors, Litecoin is a Bitcoin fork and a potential commodity under US regulations.
However, uncertainties remain for other popular assets like Solana and XRP ETFs. With Paul Atkins taking over, the SEC could have a more favorable stance toward crypto ETFs. Recent developments in the SEC suggest a shift is already underway.
Yesterday, the Senate Banking Committee declined to re-nominate Commissioner Caroline Crenshaw. She has been a vocal supporter of SEC Chair Gary Gensler’s anti-crypto agenda. Crenshaw’s term will now conclude in January, leaving a vacancy in the agency’s leadership.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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The post SEC Approves Combined Bitcoin and Ethereum ETFs appeared first on Panther AI.
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The Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF received regulatory clearance, with the latter benefiting from an expedited review.
Combined Bitcoin and Ethereum ETFs Approved after Consecutive Delays
Franklin Templeton’s updated ETF filing, submitted earlier today, secured faster approval due to its alignment with established commodity-based trust standards.
According to the filing, the SEC approved rule changes proposed by Nasdaq and Cboe BZX to facilitate the listing and trading of these funds.
Hashdex had originally filed for its ETF in June, but the SEC postponed its decision twice, citing regulatory deliberations. Analysts suggest that upcoming leadership changes in Washington may have accelerated the recent approvals.
Meanwhile, the green light for these ETFs coincides with a volatile period in crypto markets. As BeinCrypto reported earlier, over $1 billion in crypto liquidations occurred within the last 24 hours,
Bitcoin’s price dropped by more than 8% today, falling from $105,000 to below $96,000.
Are Litecoin ETFs Next?
Earlier this week, Bloomberg analysts predicted the authorization of dual Bitcoin and Ethereum ETFs, which immediately became true. According to their projections, the SEC would next approve Litecoin ETFs.
While there might not be significant demand for LTC among institutional investors, Litecoin is a Bitcoin fork and a potential commodity under US regulations.
However, uncertainties remain for other popular assets like Solana and XRP ETFs. With Paul Atkins taking over, the SEC could have a more favorable stance toward crypto ETFs. Recent developments in the SEC suggest a shift is already underway.
Yesterday, the Senate Banking Committee declined to re-nominate Commissioner Caroline Crenshaw. She has been a vocal supporter of SEC Chair Gary Gensler’s anti-crypto agenda. Crenshaw’s term will now conclude in January, leaving a vacancy in the agency’s leadership.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Source link
The post SEC Approves Combined Bitcoin and Ethereum ETFs appeared first on Panther AI.
Continue reading...