SEC Approves Bitcoin and Ethereum Crypto Index ETFs

Reading Time: < 1 minute

The SEC has given its approval for the launch of combined Bitcoin and Ethereum ETFs by Hashdex and Franklin Templeton.

This decision has opened up new avenues for institutional investment in the two biggest cryptocurrencies through spot-based investment options. Both the Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF have received the necessary regulatory clearances, with the latter benefitting from a quicker review process.

Franklin Templeton’s updated ETF submission, which was submitted earlier today, was able to secure a faster approval due to its compliance with well-established standards for commodity-based trusts. The filing also states that the SEC has approved proposed rule changes by Nasdaq and Cboe BZX to enable the listing and trading of these funds.

Hashdex had initially submitted their ETF proposal in June, but the SEC had postponed its decision twice in order to consider regulatory implications. Analysts believe that upcoming changes in leadership in Washington may have played a role in the recent approvals.