SEC approves Hashdex and Franklin’s Bitcoin and Ether ETFs

The U.S. Securities and Exchange Commission (SEC) has approved Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) exchange-traded funds (ETFs) from Hashdex and Franklin Templeton.

On December 19, the SEC granted approval for Hashdex’s Nasdaq Crypto Index US ETF, which will trade on the Nasdaq stock market, and Franklin Templeton’s Crypto Index ETF, set to be listed on the Cboe BZX Exchange.

Both ETFs will hold spot Bitcoin and spot Ether. Franklin Templeton’s ETF will track the Institutional Digital Asset Index, which represents digital assets such as Bitcoin and Ether.

Hashdex’s ETF will track the Nasdaq Crypto US Settlement Price Index, which includes Bitcoin and Ether as well.

The SEC approved Franklin Templeton’s updated filing on an “accelerated basis,” confirming that both ETFs met the criteria of the Exchange Act, which requires issuers to implement measures to prevent fraudulent and manipulative practices.

Nate Geraci, president of The ETF Store, speculated that other firms might follow suit with similar ETFs.

“Will be interesting to see if BlackRock or others attempt to piggyback on this launch similar ETFs,” Geraci said.

He also mentioned that there would be significant demand for such diversified products, particularly in the growing crypto sector.

This approval is part of ongoing filings from other firms seeking to list crypto ETFs.

In November, NYSE Arca expressed interest in listing a Grayscale crypto index ETF, which would hold a variety of spot crypto assets.

The approval for that listing is still under consideration.

The SEC’s approval of Hashdex and Franklin Templeton’s ETFs marks a significant step in the growing acceptance of crypto ETFs in the U.S. market.

At the time of reporting, the price of Bitcoin (BTC) was $97,063.44, and the price of Ethereum (ETH) was $3,379.80.