The U.S. Securities and Exchange Commission (SEC) has officially approved the first combined Bitcoin and Ethereum exchange-traded funds (ETFs), introduced by Hashdex and Franklin Templeton.
Both the Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF received approval from the SEC. These funds will allocate holdings based on the market capitalization of Bitcoin and Ethereum, with an estimated 80/20 split favoring Bitcoin.
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Launch of Combined Bitcoin and Ethereum ETFs Anticipated for January
Bloomberg ETF analyst Eric Balchunas predicted in a December 19 post on X (formerly Twitter) that the two ETFs will launch in January, coinciding with U.S. President-elect Donald Trump’s second term inauguration.
Nate Geraci, President of The ETF Store, speculated whether major asset managers like BlackRock might attempt to capitalize on the approval of these crypto ETFs. He also expressed confidence in the “meaningful demand” these products are likely to generate.
AVAX, LINK, and LTC Meet Hashdex’s Inclusion Standards
The SEC initially postponed its decision on Hashdex’s ETF proposal before granting approval. Following this, Hashdex submitted a revised S-1 filing last month. In this filing, the asset manager identified additional cryptocurrencies, including Avalanche (AVAX), Chainlink (LINK), and Litecoin (LTC), as eligible for inclusion based on specific criteria.
Similarly, the SEC delayed its decision on Franklin Templeton’s ETF. Franklin stated in its filings that its fund could potentially include other cryptocurrencies pending regulatory approval, though it did not specify which assets were under consideration.
ETF Details and Custodians
The Franklin Crypto Index ETF will trade under the ticker EZPZ, while the Hashdex ETF will be listed as NCIQ. Custody of the assets will be handled by BitGo and Coinbase for both ETFs, with Hashdex also naming Fidelity and Gemini as additional custodians for its fund.