SEC Approves Bitcoin-Ethereum ETFs, but Prices Continue to Fall

Franklin Templeton’s and Hashdex’s spot BTC-ETH ETFs were approved by the SEC. Bitcoin dropped as low as $95.5K while ETH dipped to $3.3K in the past day. Spot BTC and ETH ETFs recorded $680 million and $60.4 million in outflows on Thursday, respectively. Bitcoin’s price dropped below $100,000 after a 4% decline over 24 hours, just as the U.S. Securities and Exchange Commission (SEC) gave its approval to Hashdex and Franklin Templeton’s spot BTC/ETH combination exchange-traded funds (ETFs). Ethereum’s price saw an 8.4% decrease during this period. The SEC announced on December 19 that it had authorized Hashdex and Franklin Templeton to list their BTC-ETH investment products on the Nasdaq stock market and Cboe BZX Exchange. These new offerings are named Hashdex’s Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF. These ETFs will track spot prices of Bitcoin and Ether. Franklin Templeton’s ETF follows the Institutional Digital Asset Index, which reflects the price movements of cryptocurrencies like BTC and ETH. Hashdex’s ETF monitors the Nasdaq Crypto US Settlement Price Index. The SEC issued a separate filing that confirmed Franklin Templeton… The post SEC Approves Bitcoin-Ethereum ETFs, but Prices Continue to Fall appeared first on Coin Edition .