The U.S. Securities and Exchange Commission (SEC) has approved two spot Bitcoin and Ether exchange-traded funds (ETFs) proposed by Hashdex and Franklin Templeton. This landmark decision marks a significant milestone for the cryptocurrency industry, opening up new avenues for mainstream investors to gain exposure to the two largest cryptocurrencies.
In a Dec. 19 notice, The SEC approved the Hashdex Nasdaq Crypto Index US ETF, and the Franklin Templeton Crypto Index ETF will track a basket of cryptocurrencies, primarily Bitcoin and Ether. This dual-crypto ETF structure offers investors a diversified approach to investing in the cryptocurrency market.
This approval comes after years of anticipation and numerous rejections of Bitcoin ETF proposals. The SEC’s recent shift in stance signals a growing recognition of the maturity and institutionalization of the cryptocurrency market. It is expected to further legitimize cryptocurrencies and drive broader adoption.
With the approval of these ETFs, investors can now access Bitcoin and Ether through a regulated and familiar investment vehicle. This could lead to increased institutional interest, potentially driving further price appreciation for both cryptocurrencies.
