The United States Securities and Exchange Commission has approved two spot cryptocurrency index exchange-traded funds.

On Dec. 18, the SEC greenlighted the crypto index ETF proposal from Franklin Templeton, allowing it to trade on the Cboe BZX Exchange. The following day, the commission approved Hashdex’s crypto index ETF, which is set to trade on the Nasdaq stock market.

Franklin Templeton’s proposal was granted “accelerated approval” after its updated filing met the necessary requirements and was deemed “substantially similar” to previously approved spot Bitcoin and Ether exchange-traded products.

Crypto index ETFs track the performance of multiple cryptocurrencies, offering investors diversified exposure to the digital asset market through a single investment vehicle. It replicates …