Key takeaways
- The SEC has approved dual Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton, improving institutional access to crypto.
- Recent volatility in the crypto market has seen Bitcoin fall below $96,000 and Ethereum fall to $3,440.
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The SEC has approved dual Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton, expanding institutional access to the two largest digital assets through spot investment vehicles.
The approvals cover the Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF.
Franklin Templeton’s updated filing, submitted earlier today, received expedited clearance due to compliance with existing commodity-based trust stock standards.
The regulatory green light comes during significant market turmoil, with more than $1 billion in crypto liquidations occurring within 24 hours, according to CoinGlass data.
During this period, Bitcoin has fallen more than 8%, from yesterday’s high of $105,000 to below $96,000.
Ethereum is down about 15% from its peak, trading at $3,440, while Solana saw a similar 15% drop, now trading at $196.
The approvals match recent predictions from Bloomberg analysts regarding dual authorization of Bitcoin-Ethereum ETFs.
Looking ahead, analysts also suggest that Litecoin could be the next candidate for ETF approval, given its status as a Bitcoin fork and its potential classification as a commodity.
Meanwhile, regulatory uncertainty continues to cast doubt on the potential approval of the Solana and XRP ETFs.
A potential change in leadership at the SEC in 2025 under Paul Atkins could create more favorable conditions for the approval of crypto ETFs.
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