The SEC approved Hashdex and Franklin Templeton's dual bitcoin and ethereum ETFs, improving institutional access to cryptocurrencies.
Recent cryptocurrency market volatility saw bitcoin fall below $96,000 and ethereum fall to $3,440.
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The SEC has approved Dual bitcoin and ethereum ETFs from Hashdex and Franklin Templeton, expanding institutional access to the two largest digital assets through spot investment vehicles.
The approvals cover the US Hashdex Nasdaq crypto Index ETF and the Franklin Templeton crypto Index ETF.
Franklin Templeton's updated filing, filed today, received accelerated clearance due to compliance with existing commodity-based trust stock standards.
The regulatory green light comes during significant market turbulence, with more than $1 billion in cryptocurrency liquidations occurring in 24 hours, according to CoinGlass data.
During this period, bitcoin fell more than 8% from yesterday's high of $105,000 to below $96,000.
ethereum fell approximately 15% from its peak, trading at $3,440, while Solana saw a similar 15% drop, now trading at $196.
The approvals align with Bloomberg analysts' recent predictions regarding dual bitcoin and ethereum ETF authorizations.
Looking ahead, analysts also suggest that Litecoin could be the next candidate for ETF approval, given its status as a fork of bitcoin and its potential classification as a commodity.
Meanwhile, regulatory uncertainty continues to cast doubt on the potential approval of the Solana and XRP ETFs.
A possible leadership change at the SEC in 2025 under Paul Atkins may create more favorable conditions for the approval of crypto ETFs.
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