The U.S. Securities and Exchange Commission (SEC) has approved filings from the Nasdaq and Cboe BZX Exchange to list and trade the first spot Bitcoin and Ethereum combo exchange-traded funds (ETFs) from Hashdex and Franklin Templeton.
The Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF will initially allocate their holdings based on market capitalization, with approximately 80% in Bitcoin and 20% in Ethereum. According to Bloomberg ETF analyst Eric Balchunas, these products are expected to launch in January. “The spot Bitcoin/Ether combo ETFs have been approved by the SEC (as predicted),” Balchunas posted on X. “Launch likely in January. Good for Hashdex and Frankie being first.”
Nate Geraci, President of The ETF Store, highlighted the appeal of diversification offered by these products. “Advisors love diversification, especially in an emerging asset class like crypto,” he noted, suggesting meaningful demand is likely for these offerings.
The SEC’s approval order cited similarities with previously approved spot Bitcoin and Ethereum ETFs, emphasizing that the representations in the filings aligned with earlier rulings. Industry observers speculate whether other major players, such as BlackRock, might follow suit with similar ETFs, potentially intensifying competition in the growing crypto ETF market.
These approvals mark another milestone in integrating cryptocurrency into mainstream financial instruments, broadening options for institutional and retail investors.