As a seasoned analyst with over two decades of experience under my belt, I’ve seen markets rise and fall like the tides. The recent greenlighting of Bitcoin/Ether combo ETFs by the SEC is a testament to the growing acceptance of digital assets in traditional finance.
The U.S. Securities and Exchange Commission (SEC) has approved two Bitcoin/Ether combined exchange-traded fund proposals from Hashdex and Franklin Templeton, allowing these investment vehicles to move forward.
According to the authorization document, these items share significant resemblance with the Bitcoin and Ethereum ETFs already accepted by the regulatory body this year, which have a market focus on spots.
Nate Geraci, head of The ETF Store, expressed curiosity about whether other companies, such as industry leader BlackRock, might introduce comparable products after the SEC’s latest approval.
According to the forecast, these products will likely experience a high level of interest due to their appeal among financial advisors who favor diversification. These are Exchange Traded Funds (ETFs) that have a market capitalization-based weight, with approximately 80% of each product allocated to Bitcoin.
According to Eric Balchunas from Bloomberg, it is expected that the newly approved ETFs will go live in January.
In early 2024, the SEC gave its approval to numerous Bitcoin ETFs, paving the way for a major surge in cryptocurrency prices. According to U.Today, these US-based Bitcoin ETFs now own more Bitcoin than the anonymous creator of Bitcoin, Satoshi Nakamoto.
Ethereum Exchange-Traded Funds (ETFs), launched in July, started off with a lackluster introduction, attracting significant inflow of funds initially. However, they’ve been able to pick up momentum lately, recording two straight weeks of positive investments.
Additionally, some organizations have hastily submitted applications for Exchange-Traded Funds (ETFs) based on various altcoins, such as those tied to Solana. Yet, the Securities and Exchange Commission (SEC) has signaled that it will not grant approval for these ETFs at this time.
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2024-12-20 09:10