Franklin Templeton Crypto Index ETF: What is New?
- WBOYOriginal
- 2024-08-17 09:31:11447browse
American financial asset manager Franklin Templeton has filed an application with the United States Securities and Exchange Commission (SEC) to launch a Crypto
American financial asset manager, Franklin Templeton, has filed an application with the United States Securities and Exchange Commission (SEC) to launch a new exchange traded fund (ETF) that will track the performance of a broad universe of crypto assets.
The new ETF, which is still subject to SEC approval, will be called the Franklin Crypto Index ETF. It will initially hold two of the largest crypto assets by market capitalization, Bitcoin and Ethereum, which are the only two digital assets that Franklin Templeton currently offers exchange traded products for in the United States.
However, the filing also states that the manager has applied to include additional crypto assets in the ETF in the future, suggesting that it may be planning to add more digital assets to the fund over time.
The Franklin Crypto Index ETF will be managed by a team of investment professionals from Franklin Templeton's的多资产解决方案部门, which is led by David McCann. The team will be responsible for selecting and weighting the crypto assets in the ETF, as well as for monitoring the fund's performance and making any necessary adjustments.
The ETF will be listed and traded on the Cboe BZX Exchange, and it will be available to investors through a variety of brokerage firms. The expense ratio for the ETF will be 0.45%, which is in line with other ETFs that track the performance of crypto assets.
Bitcoin ETF A Pivotal Launchpad For Further Crypto ETF Applications
It was in January when the Gary Gensler-led SEC finally caved in and greenlighted a Bitcoin ETF, and since then a slew of ETF issuers have doubled down on their engagements within the crypto industry. This allowance also saw Franklin Templeton join the Ethereum ETF bandwagon back in May.
While the asset manager may not be among the top performing ETF issuers for either Bitcoin or ETH, it does occupy a pivotal niche within the sector. According to data collated by Farside Investors, its BTC ETF EZBC has recorded only one inflow since 29 July.
As for its ETH ETF product EZET, it has had better days with $35 million inflow within the same period. This latest filing also comes as the firm has started eyeing Solana ETF as the next in line for the SEC's approval.
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