Franklin Templeton files S-1 application for crypto index ETF offering BTC, ETH exposure Franklin Templeton files S-1 application for crypto index ETF offering BTC, ETH exposure
The proposed fund — dubbed "Franklin Crypto Index ETF" — aims to offer investors exposure to the performance of Bitcoin and Ethereum for now.
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Updated: Aug. 17, 2024 at 12:34 am UTC
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Franklin Templeton has filed an S-1 application with the US Securities and Exchange Commission (SEC) to launch a crypto index exchange-traded fund (ETF).
According to the Aug. 16 filing, the proposed fund — dubbed “Franklin Crypto Index ETF” — aims to offer investors exposure to the performance of Bitcoin and Ethereum through a regulated financial product.
The proposed ETF will track the CF Institutional Digital Asset Index, which currently includes only BTC and ETH. However, the filing states that the fund may incorporate additional cryptocurrencies in the future, depending on regulatory developments and market conditions.
Coinbase Custody Trust Company has been selected to serve as the custodian for the fund’s digital assets, while Bank of New York Mellon will manage cash holdings and perform administrative duties.
The ETF, if approved, will be listed on the Cboe BZX Exchange under the ticker symbol “EZPZ.” The Cboe is also seeking regulatory approval to allow in-kind creation and redemption of ETF shares using digital assets.
Rising demand and competition
Franklin Templeton’s application comes amid rising demand for diversified products and heightened competition among asset managers to launch crypto ETFs.
In June, Hashdex filed for approval of its own ETF, the Hashdex Nasdaq Crypto Index US ETF, which also targets Bitcoin and Ethereum. The SEC has extended its review period for that application, with a decision expected by Sept. 30.
Meanwhile, other asset managers — including Grayscale — have hinted at preparations to launch similar ETFs, while VanEck has filed an application to launch a spot Solana ETF.
The interest in crypto ETFs reflects a broader trend of increasing institutional engagement with digital assets. Despite recent volatility in crypto prices, there is a growing recognition of the role these assets can play in diversified investment portfolios.
The latest ETF proposal is part of Franklin Templeton’s broader strategy to expand its offerings in the digital asset space. The firm already offers direct exposure to Bitcoin and Ethereum via its spot ETFs launched earlier this year.
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Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
Editor Editor 
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$2,334.90
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$131.646
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Franklin Templeton
Franklin Resources, Inc., commonly known as Franklin Templeton, stands as an American multinational holding company rooted in the world of finance.
VanEck
VanEck is a global investment manager with offices around the world, including New York, Australia, China, Germany, Netherlands and Switzerland.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
Nasdaq
NASDAQ, which stands for the National Association of Securities Dealers Automated Quotations, is an American stock exchange based in New York City and one of the largest electronic stock markets in the world.
Cboe Global Markets
Cboe Global Markets is a leading global exchange operator and provider of financial market solutions.
