This approval marks a significant step forward for the crypto world.
As expected, both ETFs will initially hold Bitcoin (BTC) and Ether (ETH).
New Bitcoin and Ether ETFs Provide Easy Crypto Access
This spot Bitcoin/Ether combo ETF will launch likely in January. This will offer investors a fresh way to gain exposure to these leading digital assets. The approval is a big deal because it allows investors to buy into the top two cryptocurrencies directly through traditional markets.
Both ETFs will be market-cap-weighted. With approximately 80% allocated to BTC and 20% to ETH. This aligns with the relative size of these two digital assets in the crypto market. Here, Bitcoin remains the dominant player, but Ether continues to show its strength.
The spot bitcoin/ether combo ETFs have been approved by SEC (as predicted). Launch likely in January. They’re mkt cap weight so 80/20 btc/eth approx. Notable that Hashdex & Frankie are first. Good for them. https://t.co/o2ri3XpqZi
— Eric Balchunas (@EricBalchunas) December 20, 2024
Hashdex and Franklin Templeton are the first players to get their foot in the door with SEC approval, making this a landmark moment. Their successful bids to launch Bitcoin and Ether ETFs show that the financial industry is increasingly willing to integrate cryptocurrency into mainstream investment opportunities.
More About Crypto ETFs
US Bitcoin ETFs experienced a record $680 million net outflow on Thursday, surpassing the previous daily record of $563 million set in May by $117 million. This sharp outflow followed a 15-day streak of inflows that had helped push Bitcoin above the $100,000 mark.
BREAKING: US #Bitcoin ETFs saw a record $680 million net outflow on Thursday.
This was $117 million higher than the previous daily record set in May.
This came after a 15-day streak inflows which helped push Bitcoin above $100,000.
Record outflows took place after the Fed… pic.twitter.com/xh0ArBSLQt
— The Kobeissi Letter (@KobeissiLetter) December 22, 2024
The sudden shift came after the Federal Reserve indicated there could be fewer interest rate cuts in 2025 than initially projected, causing some investors to pull back. The move highlights how sensitive Bitcoin ETFs are to changes in economic signals and investor sentiment.
Disclaimer
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The post Hashdex and Franklin’s Bitcoin-Ether ETFs Approved by SEC appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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