Key Takeaways
- The SEC approved Hashdex and Franklin Templeton's dual Bitcoin and Ethereum ETF, increasing institutional crypto access.
- Recent crypto market volatility saw Bitcoin dip below $96,000 and Ethereum fell to $3,440.
Share this article
The SEC has approved A dual Bitcoin and Ethereum ETF from Hashdex and Franklin Templeton, expanding institutional access to the two largest digital assets through spot-based investment vehicles.
The licenses cover the Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF.
Franklin Templeton has the updated filing, submitted earlier todayreceived accelerated approval due to compliance with product-based trust sector standards.
The regulatory green light comes amid massive market turmoil, with more than $1 billion in crypto liquidations occurring within 24 hours, according to CoinGlass data.
During this time, Bitcoin fell more than 8% from yesterday's high of $105,000 to below $96,000.
Ethereum fell about 15% from its peak, trading at $3,440, while Solana experienced a similar decline of 15%, now trading at $196.
The permissions are similar to recent Bloomberg analysts forecast about Bitcoin-Ethereum ETF dual authorizations.
Looking ahead, analysts also suggest that Litecoin could be the next candidate for ETF approval, given its status as a Bitcoin fork and its possible classification as a commodity.
Meanwhile, regulatory uncertainty continues to cast doubt on the possible approval of Solana and XRP ETFs.
A possible leadership change at the SEC in 2025 under Paul Atkins could create more favorable conditions for crypto ETF licenses.
Share this article
