Franklin Templeton Launches Bitcoin, Ether Index ETFs

Franklin Templeton has announced the launch of an exchange-traded fund (ETF) that holds both spot bitcoin and ethereum. The Franklin Crypto Index ETF (EZPZ) is the second cryptocurrency index ETF to enter the U.S. market, following the launch of the Nasdaq Crypto Index US ETF (NCIQ) on 14 February by asset management firm Hashdex. The EZPZ fund holds a basket of assets referenced by the US CF Institutional Grade Digital Asset Index. As of 20 February, the index tracks only bitcoin and ethereum. According to CF Benchmarks data, as of 20 February, the asset composition of the market-capitalisation-weighted index was approximately 87% BTC and 13% ETH. Franklin Templeton plans for EZPZ to hold more cryptocurrencies in the future, and as the index expands, ultimately provide a ‘one-stop-shop’ for crypto portfolios for U.S. investors.