The United States Securities and Exchange Commission (SEC) approved the first exchange-traded funds (ETF) that combine Bitcoin (BTC) and ether (ETH), Ethereum‘s native Cryptocurrency, the two main digital assets on the market.
The new financial products were requested by investment firms Hashdex and Franklin Templeton.
According to the SEC, the presentation updated by Franklin Templeton, made on December 18, received approval through an “expedited” process.
The Hashdex ETF will be listed on the Nasdaq stock marketwhile Franklin Templeton’s will be available on the Cboe BZX exchange.
The approval was based on amended documents that the SEC says are “substantially similar” to the spot bitcoin and spot ether ETFs already previously approved in January and May this year, as reported by CriptoNoticias.
This similarity appears to have allowed the regulator to streamline the evaluation process for both applications.
Combined exposure to bitcoin and Ethereum
The new ones ETFs will allow investors to access bitcoin and ether within a single financial instrument.
According to commented Eric BalchunasETF specialist at Bloomberg Intelligence, These products could initially divide their exposure based on the market capitalizations of the assetswith an approximate proportion of 80% in bitcoin and 20% in ether.
Balchunas estimates that these financial instruments They could be released as early as January next year. This launch would mean the first opportunity in the United States for investors to access both digital assets in a single ETF.
Market expectations
Nate Geraci, investment advisor specializing in ETFs, consider that this approval could prompt other large managers, such as BlackRock, to explore similar products.
It should be noted that BlackRock already has bitcoin and ether funds spot, including BTC fund largest in the world.
«I expect there to be significant demand for these products. (Investment) advisors love diversification. Especially in an emerging asset class like cryptocurrencies,” adds Geraci.
The approval of these ETFs represents a major breakthrough for the cryptocurrency industryopening more avenues for digital assets to integrate into traditional markets. Possibly launching early next year, these products could redefine the way investors access bitcoin and ether, further cementing their place in the global economy.
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