Analysts at Bloomberg indicate that dual crypto ETFs, including proposals from Franklin Templeton, Bitwise, and Hashdex, are strong candidates for approval in 2025.
Franklin Templeton has filed an application with the SEC for a crypto ETF that will track both Bitcoin (BTC) and Ethereum (ETH). This development pertains to the Franklin Crypto Trust, with the amended filing submitted to the Cboe BZX Exchange. The SEC had earlier extended its decision period for the proposal on November 20, delaying any final ruling.
Bloomberg analysts suggest that dual crypto ETFs, including those proposed by Franklin Templeton, Bitwise, and Hashdex, are prime candidates for approval in 2025. Optimism regarding these filings has been fueled by shifts in regulatory leadership, with Paul Atkins appointed as SEC chair and David Sacks assuming the role of crypto czar. Moreover, former President Donald Trump’s positive stance on digital assets is seen as beneficial to the industry.
Franklin Templeton’s ETF will aim to follow the CF Institutional Digital Asset Index, a benchmark that tracks Bitcoin and Ethereum, weighted by their respective market capitalizations. The fund’s holdings will include Bitcoin, Ether, cash, and cash equivalents. This strategy aligns the fund with the index without venturing into staking or income generated from forks or airdrops.
Bitcoin’s price has remained above the crucial $100,000 level despite ongoing market turbulence. The Federal Reserve announced a 25-basis-point rate cut, while also making hawkish statements, indicating high inflation expectations for 2025. Federal Reserve Chair Jerome Powell also mentioned that there will be a limited number of rate cuts this year, projecting only two reductions in 2025.
As the Bitcoin price holds steady above $100,000, it serves as a key signal in the market. Ethereum’s performance will also be closely watched as ETF applications progress, with both assets set to influence the broader market dynamics.
Also Read: Bitcoin, Ethereum Slip After Fed Chair Jerome Powell’s Speech
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