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

The SEC’s approval came after both firms updated their filings, with the regulator confirming that the proposed funds met the necessary criteria to protect

The United States Securities and Exchange Commission (SEC) has finally approved Bitcoin and Ether index exchange-traded funds (ETFs) from Hashdex and Franklin Templeton.

On December 19, the SEC approved Hashdex’s Nasdaq Crypto Index US ETF, which will trade on the Nasdaq stock market. Separately, Franklin Templeton’s Crypto Index ETF was approved for the Cboe BZX Exchange. Both ETFs will hold spot Bitcoin and Ether.

The Franklin Crypto Index ETF tracks the Institutional Digital Asset Index, while the Hashdex Crypto Index ETF follows the Nasdaq Crypto US Settlement Price Index.

The SEC’s approval came after both firms updated their filings, with the regulator confirming that the proposed funds met the necessary criteria to protect investors and the public interest.

Following the approval, both ETFs are now set to begin trading on their respective exchanges. This approval is expected to pave the way for more crypto ETFs to be launched in the U.S.

Earlier in 2023, several firms, including Hashdex and Franklin Templeton, faced delays in their applications for Bitcoin and Ether ETFs. However, with this latest approval, it appears that the regulatory landscape for crypto ETFs is shifting.

As more Bitcoin and Ether ETFs are approved and begin trading, it could significantly impact the mainstream adoption of cryptocurrencies. These products offer investors an easy and regulated way to gain exposure to digital assets.

Moreover, the approval of these ETFs is a testament to the growing institutional interest in cryptocurrencies. As crypto ETFs continue to be approved, it will be interesting to see how the market responds and whether other major financial institutions will join the fray.