Franklin Templeton Bitcoin-Ethereum ETF begins trading in the US

Franklin Templeton launched its twin spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) on Feb. 20, in accordance with a press release.

The fund will commerce below the EZPZ ticker and is listed on Cboe. It tracks the twin value 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 Buyers information.

Aiming for a broad index

David Mann, international head of ETF product and capital markets at Franklin Templeton, mentioned in a statement:

“EZPZ gives a handy and low-cost approach to achieve publicity to the two most established and largest blockchain ecosystems. In the longer-term, the ETP intends so as to add any new cash as they turn out to be eligible for index inclusion. It’s our hope this ETP evolves to signify beta for crypto.”

Bloomberg ETF analyst James Seyffart noted that EZPZ “will finally” be a crypto index ETF as the US Securities and Change Fee (SEC) greenlights extra digital belongings in the ETF wrapper.

The EZPZ listed for trading lower than one week after Hashdex’s twin crypto ETF NCIQ was listed on the Nasdaq, which Seyffart additionally believes will turn out to be a crypto index ETF.

The SEC delayed the decision on Franklin Templeton and Hashdex’s funds on Nov. 20, 2024, however ultimately authorised each on Dec. 20, 2024, roughly three weeks earlier than the knowledgeable deadline of Jan. 6, 2025.

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