SEC Approves New Bitcoin and Ethereum ETFs

The U.S. Securities and Exchange Commission (SEC) has taken a major step in bridging the gap between digital assets and traditional finance by approving cryptocurrency ETFs from Franklin Templeton and Hashdex.

These new ETFs, designed to provide exposure to Bitcoin and Ethereum, will be traded on established platforms: Franklin Templeton’s offering on the Cboe BZX Exchange and Hashdex’s on the Nasdaq. This move reflects growing acceptance of regulated investment vehicles for the crypto market.

The newly approved ETFs, Franklin Templeton Crypto Index ETF and Hashdex Nasdaq Crypto Index US ETF, will focus on spot Bitcoin and Ethereum, offering investors direct access to these digital assets. Both funds will include Bitcoin, Ethereum, and cash equivalents in their portfolios.

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This approval follows stringent revisions to meet regulatory standards, including compliance with key laws like the Securities Exchange Act of 1934 and the Investment Company Act of 1940.

Enhanced market surveillance measures were also implemented to mitigate risks of fraud and manipulation. These developments mark a significant milestone in legitimizing cryptocurrencies within the broader financial ecosystem.

Kosta Gushterov