SEC Approved Hashdex Nasdaq Crypto Index ETF

Key Points:

• The SEC approved the Hashdex Nasdaq Crypto Index US ETF and Franklin Templeton Crypto Index ETF, allowing public trading on Nasdaq and Cboe BZX exchanges.
• These ETFs provide regulated access to Bitcoin and Ethereum through market-cap-weighted indexes without requiring direct ownership of cryptocurrencies.

The United States Securities and Exchange Commission has given the green light for two cryptocurrency exchange-traded funds, a step toward integrating digital assets into mainstream finance.

Read more: New Hashdex Bitcoin Commercial Launched To Celebrate Halving Event 

SEC Approves Hashdex Nasdaq Crypto Index US ETF for Public Trading

The Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF have been approved to go public, giving investors new ways to gain access to Bitcoin and Ethereum without owning the cryptocurrencies directly.

The two ETFs, which will be listed on the Nasdaq and Cboe BZX exchanges, track market capitalization-weighted indexes. The Commission’s decision was in line with the existing rules under the Securities Exchange Act of 1934, together with the Investment Company Act of 1940.

Approval Signals Growing Integration of Crypto into Financial Markets

The Hashdex fund tracks the Nasdaq Crypto Index, while the ETF from Franklin Templeton tracks the CF Institutional Digital Asset Index. Both funds invest in Bitcoin, Ethereum, cash, and cash equivalents.

The SEC’s opening of trading in these ETFs aims to provide a safe and regulated avenue for retail and institutional investors to the cryptocurrency market. According to analysts, this is a positive development that might encourage further adoption and investment in crypto by traditional financial markets.