Ethereum

Franklin

Bitcoin

<p>In a recent <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-101233.pdf" target="_blank" rel="noreferrer noopener nofollow">filing</a>, Franklin Templeton, a trillion-dollar asset manager, has filed a proposal to the US SEC to launch a Bitcoin and Ethereum index ETF. The&nbsp; Franklin Templeton Bitcoin &amp; Ethereum Crypto Index ETF will allow investors to gain exposure to Bitcoin and Ethereum within a single fund. The assets of the ETF will be Bitcoin, Ethereum, cash and cash equivalents, which are short-term securities with a maturity of less than three months.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-bny-mellon-the-fund-administrator">BNY Mellon- The Fund Administrator</h2>   
<p>Investors will get the opportunity to get involved in both cryptocurrencies without having to own the underlying assets. To ensure the security and reliability of the ETF, BNY Mellon—one of the world’s largest custody banks—will act as the fund administrator. BNY Mellon will monitor the operations and management of the ETF, ensuring that it complies with all regulatory requirements.</p>   
<p>For cryptocurrency custody, Coinbase Custody has been selected to securely hold the underlying assets, which underscores Franklin Templeton’s emphasis on the security of the crypto assets held within the ETF.</p>   
<p>Franklin Templeton Bitcoin &amp; Ethereum Crypto Index ETF will be available in the form of 50,000 share blocks. The price per block will be equivalent to the net asset value (NAV) of the Bitcoin and Ethereum held in the fund. However, the ETF will not participate in staking or other forms of earning income with the digital assets. The ETF filing is a part of the asset manager’s expansion into blockchain technology.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-regulatory-hurdles">Regulatory Hurdles</h2>   
<p>While several Bitcoin ETFs have been launched in the U.S. and abroad, the SEC has previously rejected many <a href="https://coinpedia.org/beginners-guide/etf-exchange-traded-fund/" target="_blank" rel="noreferrer noopener">crypto ETF</a> applications over concerns regarding market volatility, security, and the potential for manipulation.</p>   
<p>However, recent developments suggest a shift in sentiment. As industry leaders implement stronger security measures, reliable custody solutions, and institutional backing, SEC has shown its willingness to accept crypto investment products. Notably, the proposal specifically mentions the oversight agreements with regulated futures markets like CME Bitcoin and Ether Futures within its framework.</p>   
<h2 class="wp-block-heading" id="h-hashdex-submits-amended-filing">Hashdex Submits Amended Filing</h2>   
<p>With major players like Franklin Templeton entering the space, the future of crypto ETFs looks promising. Moreover, Asset Manager Hashdex has also submitted an amended registration <a href="https://www.sec.gov/Archives/edgar/data/2031069/000121390024083537/ea0209567-02.htm" target="_blank" rel="noreferrer noopener nofollow">filing </a>for a proposed exchange-traded fund (ETF) designed as a one-stop-shop cryptocurrency portfolio.&nbsp;</p>   
<p>The Hashdex Nasdaq Crypto Index US ETF will initially comprise Bitcoin and Ether, the only assets currently included in the Nasdaq Crypto US Index, but may eventually expand to include additional digital currencies.&nbsp;</p>   [post_titles_links postid="358971"]

Franklin Templeton Files For Bitcoin & Ethereum Crypto Index ETF

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