Key Takeaways
- Franklin Templeton’s new crypto index will track Ether and Bitcoin.
- The index may lead to future ETFs and investment products.
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Global investment firm Franklin Templeton has submitted an S-1 registration form to the US Securities and Exchange Commission (SEC) for a crypto index ETF that will track the performance of Bitcoin and Ethereum.
According to a filing dated August 16, the fund, called the “Franklin Crypto Index ETF,” aims to offer investors a diversified entry into the world of digital assets while benefiting from Franklin’s renowned institutional backing.
The ETF will focus solely on the two largest digital assets, as noted in the filing. However, if other digital assets are added to the index in the future, Franklin will adjust the fund’s structure accordingly, subject to regulatory approval.
Coinbase Custody Trust Company has been designated as the custodian of the fund’s digital assets. Bank of New York Mellon will handle cash holdings and serve as the fund’s administrator and transfer agent.
If approved, the fund will be listed on the Cboe BZX Exchange and traded under the ticker symbol “EZPZ.” The filing noted that the Cboe is currently awaiting regulatory approval to allow for in-kind creation and redemption of shares using digital assets.
Franklin Templeton’s latest move comes at a time when institutional interest in digital assets, particularly Bitcoin and Ethereum, is on the rise.
Although Bitcoin’s price has…
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