Key Takeaways:
- Franklin Templeton files for a new Crypto Index ETF under the ticker “EZPZ,” focusing on Bitcoin and Ethereum.
- Coinbase will serve as the custodian, securely storing the digital assets backing the ETF.
- This filing is part of a growing trend among Wall Street firms expanding into crypto-related investment products.
YEREVAN (CoinChapter.com) — Franklin Templeton, one of Wall Street’s largest asset managers, has filed with the U.S. Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF). The ETF, called the Franklin Crypto Index ETF, will trade under the ticker “EZPZ” if approved. It will give investors exposure to Bitcoin and Ethereum through the CF Institutional Digital Asset Index.
This filing follows Franklin Templeton’s earlier launches of a spot Bitcoin ETF and an Ethereum ETF in 2024.
Franklin Templeton Taps Coinbase to Secure BTC and ETH for New Crypto Index ETF
The Franklin Crypto Index ETF will hold Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. Coinbase, the biggest cryptocurrency exchange in the U.S., will be the custodian, responsible for securely storing the digital assets that back the ETF.
Franklin Templeton Joins Growing Wall Street Trend with New Crypto ETF Filing
Franklin Templeton’s ETF filing is part of a broader trend among Wall Street firms offering crypto-related products. More firms are launching or proposing ETFs that provide exposure to digital assets, allowing investors to gain indirect exposure to cryptocurrencies without directly buying or storing them.
The SEC has been cautious in approving these ETFs, especially those focused on spot prices. However, several spot Bitcoin ETFs were approved in 2024, indicating a shift in the regulatory landscape.
Expanding OnChain U.S. Government Fund to Arbitrum, Eyeing Future Altcoin Fund
Franklin Templeton recently announced that its Nasdaq-listed OnChain U.S. Government Money Fund (FOBXX) is now accessible on the Arbitrum network. Arbitrum is a layer-2 scaling solution for Ethereum, designed to make transactions faster and cheaper on the Ethereum blockchain.
Franklin Templeton has been involved in digital assets since 2018. This expansion into the Arbitrum network shows the firm’s commitment to blockchain technology.
Reports suggest that Franklin Templeton may launch a private fund focused on altcoins, tailored for institutional investors. This fund may also offer staking rewards.
