Big-name investment firm Franklin Templeton has jumped into the crypto ETF game with a new fund that invests in both Bitcoin (BTC) and Ethereum (ETH). This is their third crypto ETF, following separate Bitcoin and Ethereum ETFs launched last year.
A Blend of Crypto Giants
The new fund, called the Franklin Crypto Index ETF (EZPZ), will track a benchmark index currently made up of 86.51% Bitcoin and 13.49% Ethereum. Coinbase will handle the safekeeping of the crypto assets.
Future-Proofing the Fund
Franklin Templeton’s global head of ETF products, David Mann, says the fund’s composition might change over time. He highlighted the company’s commitment to innovation and explained that the ETF aims to provide easy and affordable access to the two biggest cryptocurrencies. The long-term goal is for the ETF to include other cryptocurrencies as they meet the index’s criteria, essentially becoming a broader representation of the crypto market.
Following the Trend
Franklin Templeton isn’t alone in this move. Another firm, Hashdex, recently launched a similar BTC-ETH ETF. Bloomberg analyst James Seyffart thinks that both funds are likely to evolve into larger crypto index ETFs as US regulators allow more digital assets into these types of investment vehicles.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before making any investment decisions.
/p>
