Franklin Templeton has filed an S-1 registration form with the US Securities and Exchange Commission (SEC) for a cryptocurrency index exchange-traded fund (ETF) that will monitor the performance of Bitcoin and Ethereum.
The “Franklin Crypto Index ETF” is a fund that seeks to provide investors with varied exposure to digital assets, while also benefiting from the reputable institutional support of Franklin.
The ETF will exclusively target the two most significant digital assets, with Coinbase Custody Trust Company appointed as the custodian responsible for safeguarding the fund’s digital assets.
The Bank of New York Mellon will be responsible for managing the fund’s cash holdings and performing administrative and transfer agent duties. If authorized, the fund will be officially included on the Cboe BZX Exchange and will be traded using the ticker symbol “EZPZ.”
The Cboe is presently awaiting regulatory authorization to enable the creation and redemption of shares using digital assets in the form of goods or services instead of cash.
Franklin Templeton’s recent action coincides with a period of increasing institutional interest in digital assets, specifically Bitcoin and Ethereum. The increasing acceptance of ETFs is indicative of a larger pattern where conventional financial institutions acknowledge the significance of digital assets as a component of a well-rounded investment portfolio.
Franklin Templeton has aggressively participated in the cryptocurrency industry, launching its spot Bitcoin Exchange-Traded Fund (ETF) in the United States on January 10, along with other prominent asset managers.
