SEC approves duo of crypto-ETFs

Bitcoin and Ethereum together in one ETF: this is becoming a reality in the US. Around Jan. 20, people will be able to trade these index funds.

The Securities and Exchange Commission (SEC) has approved two crypto-ETFs from asset managers Hashdex and Franklin Templeton. This is according to an official documentt from the U.S. stock market watchdog.

The financial products combine Bitcoin and Ethereum into one ETF. According to Bloomberg analyst Eric Balchunas, the breakdown is 80% Bitcoin and 20% Ethereum. The trading debut is expected around Jan. 20.

The Hashdex ETF will be launched on the Nasdaq (Tech exchange), while Franklin Templeton's index fund will be traded on the Chicago Board Options Exchange (Cboe).

Both providers must meet strict transparency requirements, such as disclosing their portfolio holdings and pricing. The exchanges themselves monitor compliance with these rules.

Originally, the SEC was supposed to make a decision in November, but it was postponed to Jan. 1. However, the final approval came sooner than expected.

Since the introduction of Bitcoin and Ethereum ETFs, there has been a race among institutional providers for crypto index funds. For example, several asset managers have already submitted applications for ETFs based on XRP or Solana.