The U.S. Securities and Exchange Commission (SEC) has approved the first hybrid exchange-traded funds (ETFs) that combine Bitcoin and Ethereum.
Nasdaq has been authorized to list the Hashdex Nasdaq Crypto Index US ETF, while the Cboe BZX Exchange will list the Franklin Crypto Index ETF.
The allocation of assets within each trust will be determined based on the free-float market capitalizations of Bitcoin and Ethereum.
Market analysts anticipate that these funds will launch in January, with an expected asset distribution of approximately 80% Bitcoin and 20% Ethereum.
This approval marks a significant moment in the evolution of cryptocurrency investment products, as it offers investors a regulated way to gain exposure to both Bitcoin and Ethereum.
Grayscale Investments has also filed a proposal with the SEC to convert its Grayscale Solana Trust into a spot ETF listed on NYSE Arca.
This move aims to enhance investor access to Solana by allowing shares of the trust to trade as an ETF on a regulated exchange.
The SEC's approval of these ETFs reflects a growing comfort with dual-asset frameworks in the cryptocurrency market.
It also signals a potential shift in regulatory attitudes towards digital assets.