The financial services giant Franklin Templeton has launched a mixed Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded fund (ETF).
Coinbase will provide custody services for the new Franklin Crypto Index ETF (EZPZ), the firm’s third crypto exchange-traded fund.
Franklin Templeton also launched single-asset Bitcoin and Ethereum ETFs last year.
The new fund will track the CF Institutional Digital Asset Index, an investible benchmark portfolio index that is currently weighted 86.51% BTC and 13.49% ETH.
David Mann, the global head of ETF product and capital markets at Franklin Templeton, says the new ETF could evolve over time and represents the firm’s “unwavering commitment” to innovation.
“EZPZ offers a convenient and low-cost way to gain exposure to the two most established and largest blockchain ecosystems. In the longer term, the ETP intends to add any new coins as they become eligible for index inclusion. It is our hope this ETP evolves to represent beta for crypto.”
Franklin Templeton follows in the footsteps of the crypto asset management firm Hashdex, which launched a joint BTC-ETH ETF earlier this month.
Bloomberg ETF analyst James Seyffart predicts both products “will ultimately be crypto index ETFs as the [U.S. Securities and Exchange Commission] allows more digital assets in the ETF wrapper.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
