After six months of review, the U.S. Securities and Exchange Commission (SEC) has finally approved the first batch of Bitcoin and Ethereum mixed ETFs, including the Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF. Analysts predict that there will be a huge market demand for these types of products in the future.
Nate Geraci, President of ETF Store, announced on social media platform X yesterday (20th) that after nearly six months of review, the SEC has finally approved the Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF, both issued by Hashdex and Franklin Templeton, respectively.
According to Decrypt, based on SEC documents, the Hashdex Nasdaq Crypto Index US ETF will be listed on Nasdaq, while the Franklin Crypto Index ETF will be listed on the Cboe BZX Exchange. The proportion of Bitcoin and Ethereum held by these two mixed ETF products will be calculated based on their free float market value. In addition, the SEC has also stipulated that these two products must continuously meet listing requirements and maintain transparency in their portfolio and pricing; otherwise, they will be required to delist.
In addition, a senior ETF analyst at Bloomberg predicts that these two products are expected to officially start trading in January next year. In terms of mixed investment, Bitcoin accounts for 80% and Ethereum accounts for 20%, reflecting their current market values.
Nate Geraci, President of ETF Store, further added that he expects a great demand for these types of products in the future because investors like diversified portfolios. After the launch of these two products, it can also be expected to see if other companies such as BlackRock, a giant asset manager, will also introduce similar products, as the SEC has shown satisfaction with the current applications.
It will be interesting to see if BlackRock or other companies will try to launch similar products. In any case, I expect these products to have a huge market demand. Advisors like diversification, especially in emerging asset classes such as cryptocurrencies. It is also worth mentioning that as early as June this year, Bloomberg analyst James Seyffart commented that launching such products in the United States would be “significant”.
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