ETF News: Franklin Templeton's Bitcoin and Ethereum Index ETF Proposal Explained
Thursday, 3 October 2024, 02:30
ETF News: Overview of Franklin Templeton's Proposal
Franklin Templeton has recently submitted a Bitcoin and Ethereum index ETF (exchange-traded fund) proposal to the US Securities and Exchange Commission (SEC). If approved, this ETF could uniquely combine both BTC and ETH in a single fund, providing indirect exposure to these highly popular cryptocurrencies.
Key Features of the ETF
- The ETF aims to mitigate volatility commonly associated with cryptocurrencies.
- It will reflect the net asset value (NAV) tied to held BTC and ETH.
- BNY Mellon will serve as the custodian overseeing fund operations.
SEC Approval and Implications
The SEC's decision hinges on the implementation of anti-fraud measures in regulated futures markets. Approval would signify increased acceptance of cryptocurrency products among traditional financial sectors.
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