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The U.S. Securities and Exchange Commission (SEC) has approved the first dual Bitcoin-Ethereum exchange-traded funds (ETFs), allowing Nasdaq and Cboe BZX to list the Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF, expected to launch early next year. These funds will hold approximately 80% Bitcoin and 20% Ethereum, enhancing market integrity through surveillance-sharing agreements. This approval signals a more receptive environment for innovative crypto products, potentially paving the way for additional multi-asset ETFs in the future.
The SEC has approved two groundbreaking ETFs: the Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF, which combine spot Bitcoin and Ethereum for balanced exposure. This approval marks a significant step for crypto investing, reflecting regulators' growing recognition of the market's potential. By linking futures to spot prices and adhering to strict guidelines, these ETFs aim to enhance investor security and accessibility in the evolving digital currency landscape.
Hedge funds have set a record for short positions against Ethereum on the CME, reaching 6,349 contracts, despite over $2 billion in inflows into Ethereum ETFs. This cautious outlook contrasts with long-term optimism, as analysts note Ethereum's realized price upper band at $5,200, indicating potential for growth. Network activity remains strong, with over 130,000 new addresses created daily and weekly transaction fees hitting $67 million, driven by robust DeFi engagement.
Japanese stock futures rose as the yen continued to weaken against the dollar following Donald Trump's presidential victory, which heightened expectations for economic growth policies that may keep US interest rates high. Nikkei 225 futures reached 40,105 on the Chicago Mercantile Exchange, up from the previous close of 39,480.67, while the yen fell by as much as 2%, benefiting exporters.
Japanese stock futures rose as investors anticipated the results of the US presidential election, which could impact the global economy. Nikkei 225 futures reached 38,970 on the Chicago Mercantile Exchange, up from the previous close of 38,474.9. The yen strengthened slightly amid a weaker dollar, with polls indicating a tightly contested race in the US.
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