The financial powerhouse Franklin Templeton has introduced a combined Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded fund (ETF).
Coinbase will handle custody services for the newly launched Franklin Crypto Index ETF (EZPZ), marking the firm’s third foray into crypto exchange-traded funds.
In addition, Franklin Templeton debuted single-asset Bitcoin and Ethereum ETFs last year.
This new fund will aim to replicate the CF Institutional Digital Asset Index, an investable benchmark that is presently allocated 86.51% to BTC and 13.49% to ETH.
David Mann, the global head of ETF product and capital markets at Franklin Templeton, states that this new ETF may evolve over time and symbolizes the company’s “unwavering commitment” to innovation.
“EZPZ provides an easy and affordable method to gain access to the two most prominent and established blockchain ecosystems. Over time, the ETP plans to incorporate any new coins once they meet the criteria for index inclusion. It is our aspiration that this ETP evolves to serve as a benchmark for crypto.”
Franklin Templeton is following the lead of the crypto asset management firm Hashdex, which recently launched a joint BTC-ETH ETF.
Bloomberg ETF analyst James Seyffart anticipates that both offerings “will ultimately transform into crypto index ETFs as the [U.S. Securities and Exchange Commission] permits more digital assets within the ETF structure.”
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