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In a significant development for the Cryptocurrency market in the United States, the US Securities and Exchange Commission (SEC) has approved the first crypto index exchange-traded funds (ETFs) combining Bitcoin and Ethereum. These innovative financial products have been presented by the managers Hashdex and Franklin Templeton, and their launch is scheduled for January.
Key details of approved ETFs
The ETFs will be based on an index that will reflect the market capitalizations of the two leading cryptocurrencies, with an approximate allocation of 80% to Bitcoin and 20% to Ethereum.
Hashdex’s fund, known as Hashdex Nasdaq Crypto Index US ETF, will trade under the ticker NCIQ, while Franklin Templeton’s will trade under the ticker EZPZ. Both ETFs will have BitGo and Coinbase as primary custodians, ensuring the secure management of digital assets.
Approval process and similarities with previous ETFs
The SEC’s decision comes after a period of analysis that began when Hashdex and Franklin Templeton filed their filings in July and August, respectively.
According to the regulatory body, these funds meet the requirements already established for other previously approved cryptocurrency ETFs, such as Bitcoin spot ETFs.
This regulatory consistency has been key to getting the green light in an area that has faced delays and scrutiny in the past.
Impact on the crypto market and investor reaction
The approval of these combined ETFs comes in a context of accelerated growth for the crypto ETF market in the United States. In 2024 alone, Bitcoin spot ETFs attracted more than $36 billion in net flows, while Ethereum spot ETFs, which debuted in July, generated approximately $2.4 billion in the same period. The combination of both cryptocurrencies could provide investors with an additional level of diversification and appeal.
Eric Balchunas, ETF analyst at Bloomberg, commented that the diversified nature of these products can capture the interest of traditional investors and crypto enthusiasts alike, expanding access to more balanced strategies in the cryptocurrency market.
What does this approval mean for the market?
The approval of these ETFs not only represents progress in the regulatory acceptance of cryptocurrencies, but could also mark the beginning of a new stage for the investment strategy in digital assets.
With pioneering names like Hashdex and Franklin Templeton leading this initiative, and backing from companies like BitGo and Coinbase, investors will now have a new tool to gain exposure in one of the most dynamic and volatile markets today.
This launch, scheduled for January, promises to be a key event for the crypto ecosystem and will attract the attention of investors, regulators and analysts worldwide. Will it become one of the catalysts that drives the next wave of institutional and retail adoption in the sector? Time will tell.
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