The U.S. Securities and Exchange Commission (SEC) has approved the first Bitcoin and Ethereum exchange-traded funds (ETFs) from Hashdex and Franklin Templeton. This marks a significant step for institutional investors, offering easier access to these cryptocurrencies.
Details on ETF Approval
The regulators have approved the Franklin Templeton Crypto Index ETF and the Hashdex Nasdaq Crypto Index US ETF, which brings institutional investors closer to accessing Bitcoin and Ethereum via spot investment options.
Reasons for Quick Approval
Franklin Templeton's application was processed faster due to compliance with commodity-based trust standards. Changes in Nasdaq and Cboe BZX rules facilitated the listing of these funds.
Impact on Traditional Finance
The approval of ETFs suggests that digital assets are becoming integrated into mainstream finance. Experts believe leadership changes in Washington might speed up the approval process, with ETFs set to launch in January 2024.
The SEC's approval of these funds indicates the ongoing integration of cryptocurrencies into traditional finance, opening new investment opportunities.
