Franklin Templeton launched its twin spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) on Feb. 20, in response to a press launch.
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 12 months.
As of Feb. 20, EZBC and EZET have registered $479.6 million in internet flows since their launches, primarily based on Farside Traders knowledge.
Aiming for a broad index
David Mann, international head of ETF product and capital markets at Franklin Templeton, mentioned in a assertion:
“EZPZ affords a handy and low-cost technique 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 grow to be eligible for index inclusion. It’s our hope this ETP evolves to symbolize beta for crypto.”
Bloomberg ETF analyst James Seyffart famous that EZPZ “will in the end” be a crypto index ETF because the US Securities and Trade Fee (SEC) greenlights extra digital property 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 grow to be a crypto index ETF.
The SEC delayed the choice on Franklin Templeton and Hashdex’s funds on Nov. 20, 2024, however finally authorized 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 regulation 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).
