Franklin Templeton launched its twin spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) on Feb. 20, based on a press release.
The fund will commerce underneath the EZPZ ticker and is listed on Cboe. It tracks the twin worth primarily based on the CF Institutional Digital Asset Index.
The index is weighted by market capitalization, allocating 82% to Bitcoin and 18% to Ethereum. As of Feb. 19. EZPZ holds 22.12 BTC and 123.55 ETH, custodied by Coinbase.
That is Franklin Templeton’s third crypto ETF, following the launches of the Franklin Bitcoin ETF (EZBC) and the Franklin Ethereum ETF (EZET) final yr.
As of Feb. 20, EZBC and EZET have registered $479.6 million in internet flows since their launches, primarily based on Farside Traders information.
Aiming for a broad index
David Mann, world head of ETF product and capital markets at Franklin Templeton, mentioned in a statement:
“EZPZ presents a handy and low-cost solution to acquire publicity to the 2 most established and largest blockchain ecosystems. Within the longer-term, the ETP intends so as to add any new cash as they change into eligible for index inclusion. It’s our hope this ETP evolves to symbolize beta for crypto.”
Bloomberg ETF analyst James Seyffart noted that EZPZ “will in the end” be a crypto index ETF because the US Securities and Trade Fee (SEC) greenlights extra digital belongings within the ETF wrapper.
The EZPZ listed for buying and selling lower than one week after Hashdex’s twin crypto ETF NCIQ was listed on the Nasdaq, which Seyffart additionally believes will change into a crypto index ETF.
The SEC delayed the decision on Franklin Templeton and Hashdex’s funds on Nov. 20, 2024, however finally accredited each on Dec. 20, 2024, roughly three weeks earlier than the knowledgeable deadline of Jan. 6, 2025.
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Gino Matos
Gino Matos is a legislation faculty graduate and a seasoned journalist with six years of expertise within the crypto trade. His experience primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).