Franklin Templeton has launched the Franklin Crypto Index ETF (EZPZ), joining Hashdex’s Nasdaq Crypto Index US ETF (NCIQ) as the second cryptocurrency index ETF. The fund follows the US CF Institutional Digital Asset Index, which currently consists of 87 per cent Bitcoin (BTC) and 13 per cent Ether (ETH). More cryptocurrencies will be added over time as they receive regulatory approval to offer diversified exposure.
US regulators have recently been changing the way they consider crypto regulation, resulting in numerous filings for Solana (SOL), XRP and Litecoin (LTC) ETFs. Amid increasing institutional participation, Bloomberg Intelligence analysts are certain that there exist good prospects of approval for such new ETF filings, according to CoinTelegraph.
Advertisement
Utah Moves Closer to Holding Bitcoin as a Reserve Asset
Utah’s Bitcoin Reserve Bill (HB230) passed the Senate Revenue and Taxation Committee, and the state is one step closer to adopting Bitcoin as a reserve asset. The bill, which has already been voted out of the House, now awaits final Senate approval before going to Governor Spencer Cox to sign, CoinTelegraph reports.
In order to be a reserve asset, a cryptocurrency would have had to have a $500 billion market cap for the last year. Bitcoin is the only one that currently qualifies, but crypto staking is also permitted under the bill. This means that proof-of-stake assets such as Ether (ETH) may be included in the future, providing new investment options.
Advertisement
SafeMoon CTO Pleads Guilty in $200M Fraud Case
SafeMoon Chief Technology Officer, Thomas Smith, has pleaded guilty to a $200 million fraud count. He pleaded guilty to conspiracy to commit securities fraud and conspiracy to commit wire fraud, which carry a maximum sentence of 45 years in prison. His guilty plea comes on accusations that SafeMoon executives misled investors by falsely stating the liquidity of the token was locked up when they were actually withdrawing funds secretly.
The SEC and Justice Department charged Smith and other executives with diversting investor money into luxury cars and property. SafeMoon’s market crashed following the exposure of the liquidity pool, resulting in huge losses for investors, according to CoinTelegraph.
