Franklin Templeton launched its dual spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) on Feb. 20, according to a press release.
It will be listed at Cboe under the ticker EZPZ. The dual price is based off the CF Institutional Digital Asset Index.
This index weights the market capitalization by allocating 82% of it to Bitcoin, and 18% for Ethereum. According to the data of February 19. EZPZ is currently held by Coinbase, which holds 22,12 BTC.
This is Franklin Templeton’s third crypto ETF, following the launches of the Franklin Bitcoin ETF (EZBC) and the Franklin Ethereum ETF (EZET) last year.
According to Farside Investors, EZBC has registered net flow of $479.6 millions since its launch.
Aim for a broad Index
David Mann, Global Head of ETF Product and Capital Markets at Franklin Templeton said that in an article. The following is a statement by the spokesperson:
“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.”
Bloomberg ETF analyst James Seyffart noted that EZPZ “will ultimately” be a crypto index ETF as the US Securities and Exchange Commission (SEC) greenlights more digital assets in the ETF wrapper.
The EZPZ listed for trading less than one week after Hashdex’s dual crypto ETF NCIQ was listed on the Nasdaq, which Seyffart also believes will become a crypto index ETF.
The SEC delayed the decision on Franklin Templeton and Hashdex’s funds on Nov. 20, 2024, but eventually approved both on Dec. 20, 2024, roughly three weeks before the informed deadline of Jan. 6, 2025.
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