The Securities and Exchange Commission (SEC) has approved new spot-based Bitcoin and Ethereum Exchange Traded Funds (ETFs) from financial firms Hashdex and Franklin Templeton. This marks a significant milestone for the crypto industry, allowing for easier and more direct exposure to these leading cryptocurrencies through traditional financial markets.
The approved offerings include the Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF. These funds provide an innovative investment structure, featuring an 80/20 average weighting of Bitcoin and Ethereum, although future fund allocations may include other digital assets.
This development is a pivotal shift in how institutional and retail investors can engage with the crypto market, potentially drawing more mainstream capital into cryptocurrency through platforms they're already familiar with. Competing exchanges Nasdaq and Cboe BZX were involved in the application process, highlighting the growing acceptance of cryptocurrencies within traditional financial ecosystems.
