SEC Approves Bitcoin-Ether Crypto ETFs!

The SEC approved Hashdex’s Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF.

Author

Danielle du Toit
December 20, 2024

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Here's what we've got for you today:

  • SEC Simultaneously Approves Hashdex, Franklin’s Bitcoin-Ether ETFs

  • Investors Sue HAWK Meme Coin Team After Massive Losses

  • Vivek Ramaswamy’s X Account Hacked to Promote DOGE Collaboration with Stablecoin Project

  • Chainalysis Reveals North Korea’s Record Breaking Heists in 2024

The SEC approved Hashdex’s Nasdaq Crypto Index U.S. ETF, and also approved the separate Franklin Crypto Index ETF.

  • Both the Franklin Crypto Index ETF and Hashdex’s Crypto Index ETF will include spot Bitcoin (BTC) and spot Ethereum (ETH) as part of their tracked assets.

  • The Franklin ETF tracks the Institutional Digital Asset Index, while Hashdex’s ETF is based on the Nasdaq Crypto U.S. Settlement Price Index.

  • The ETFs were approved based on amended filings, their structural similarity to previously approved ETPs, and compliance with Exchange Act requirements to prevent fraud and protect investors.

The team behind the HAWK meme coin that is associated with Haliey Welch is facing legal action from investors who believe they violated securities laws.

  • The lawsuit was filed in a New York District Court, and accuses HAWK of operating as an unregistered security.

  • Twelve plaintiffs reported collective losses of close to $151,000 and are seeking a jury trial. They also allege that HAWK had all of the characteristics typical of an unregistered security.

  • The plaintiffs argue that HAWK's success relied on a "common enterprise" involving pooled funds as well as the efforts of Welch and her team, which created a "reasonable expectation of profits" for investors.

Hackers breached the X account of Vivek Ramaswamy, co-lead of the newly formed DOGE department, to spread false information about its collaboration with stablecoin project USUAL.

  • The Usual stablecoin protocol was launched just four months ago, and recently reached a $1 billion market cap.

  • A now-deleted post from Ramaswamy's account claimed a partnership between the DOGE department and Usual to leverage crypto for reducing the federal fiscal deficit.

  • Fund manager James Fishback revealed that Ramaswamy's account was hacked, and called the announcement a scam as Ramaswamy is locked out of his account.

North Korean hackers doubled their crypto thefts in 2024 by stealing over $1.3 billion.

  • Hackers linked to North Korea have stolen over $1.3 billion in digital assets across 47 incidents in 2024, doubling their crypto theft compared to 2023 and accounting for 61% of global crypto thefts.

  • Chainalysis reported a rise in both the number and magnitude of DPRK's crypto exploits as more attacks involved amounts exceeding $50 million and $100 million than in previous years.

  •  Chainalysis also reported that hackers globally stole approximately $2.2 billion worth of cryptocurrency in 2024, which was a 21% increase compared to 2023.

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