Franklin Templeton has launched its latest Crypto Exchange-Treded Product, Franklin Crypto Index ETF.
It marks the third major crypto exchange-traded funds of the asset manager. The other two digital asset funds include Franklin Bitcoin ETF (Tikar: EZBC) and Franklin Etharium ETF (Tikar: Ejet), approved in January and June, respectively.
Franklin template Announced The launch of Franklin Crypto Index ETF on 20 February.
Fund, which Franklin Templeton filed for approval with the US Securities and Exchange Commission in August 2024, would trade under Tikar EzpZ.
The new exchange-traded product will offer the risk to the price movements of bitcoin (BTC) and atherium (Ath). Ezpz BTC and Eth, the two largest digital assets want to reflect the market capitalization.
In particular, bitcoin and atherium spot ETFs live in the only single-asset spot Crypto ETF in America
“Ezpz provides a convenient and low cost way to exposure to two most established and largest blockchain ecosystems. In the long term, ETP intends to add any new coins as they become eligible for index inclusion. It is our hope that it develops to represent beta for ETP crypto, “said David Mann, the global head of the ETF product and capital market in Franklin Templeton.
The new fund of Franklin Templeton will be kept in custody by the coinbase. Currently, funding of funds contains 82% bitcoin and 18% atherium.
The sponsor fee for EZPZ is 0.19%. However, Franklin Templeton plans to waive the fee until 31 August, 2025 or until the fund reaches its first $ 10 billion assets.
In recent months, asset managers have increased efforts to introduce more spot crypto exchange-traded funds in the market, including alltcoin-centered products for XRP, Solana, Litcoin and Dogicine.
The SEC has accepted most of these filing, which gives speed to a time -line towards final approval or rejection.
On 20 February, the Securities and Exchange Commission accepted the receipt of 21Shares Forms 19B-4 filing, which seeks approval to add stacking to the issuer’s Etharium ETF. This growth comes as several issuers for Ath ETF stating, a trick experts say that the atherium spot ETF may explode at a new height.
