tl;dr
The SEC has approved combined Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton, expanding institutional access to the two largest cryptocurrencies. The Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF received regulatory clearance, with the latter benefitin...
SEC approves combined Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton, expanding institutional access to the largest cryptocurrencies. Franklin Templeton’s updated ETF filing secures faster approval due to alignment with commodity-based trust standards. The SEC approves rule changes for Nasdaq and Cboe BZX to facilitate listing and trading of the funds.
Analysts suggest upcoming leadership changes in Washington may have accelerated recent approvals. Bloomberg analysts predict SEC authorization of Litecoin ETFs, uncertainties remain for other assets. Recent developments in the SEC suggest a shift in stance toward crypto ETFs due to leadership changes.
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. The approval coincides with a volatile period in crypto markets, with Bitcoin's price dropping by more than 8% in the last 24 hours.
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.
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 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.
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. 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.