What do you get when you combine EZBC and Ezet? According to the launch of Franklin Templeton’s Crypto Index ETF, the result is EZPZ.
Representative of the ticker name of the latest crypto -product from Franklin Templeton on the CBOe BZX Exchange on Thursday, EZPZ offers investors both Bitcoin And Ethereum exposure.
The product follows price movements for the two top cryptocurrencies based on the institutional digital assets index of CF Benchmark, which last year, and focus About Coins “recognized as in accordance with large financial areas of law that the dominant capital markets.”
That means that instead of focusing on only one cryptocurrency, the index top coins weigh through market capitalization. As a result, 82% of a dollar invested in EZPZ would be exposed to the price of Bitcoin, while 18% would be correlated with the performance of Ethereum.
The start of EZPZ follows Franklin Templeton’s introduction of Spot Bitcoin and Ethereum ETFs last year. The financial giant, next to his push in the space for digital assets, first launched Fobxx, a tokenized money-market fundon Polyhoek And Stellar in 2021.
Roger Bayston, head of digital assets at Franklin Templeton, said in a press release that the cost ratio of 0.19% of the fund will make it a cheap way for investors to tap into a budding asset class.
“Blockchains arise as important tools for current and future information and data economies,” he said. “With EZPZ we offer a simple, cheap way to get exposure to this growing and important activa class.”
Although Franklin Templeton is one of the world’s largest asset managers, the Franklin Bitcoin ETFs (EZBC) ranks $ 708 million in assets under management (AUM) only the ninth of the 11 American Bitcoin funds currently acting, according to Coinglass facts.
Blackrock’s Ishares Bitcoin ETF (IBIT), the dominant fund in the young room, has $ 56.6 billion in AUM.
The Franklin Ethereum ETF (Ezet), who started acting together with eight competitors last July, has $ 34 million in AUM to rank seventh among that group.
Despite the lower acceptance for the Crypto ETFs of Franklin Templeton, the company’s digital assets is perhaps still in the lead in the crypto culture.
Earlier this week, Franklin Templeton Digital Activa posted A photo on X (formerly known as Twitter) by Benjamin Franklin who is wearing a hat that looks strongly like a uniform at McDonald’s, who often portrays crypto Twitter as an inevitable task for Down-on-their-luck traders when markets are volatile .
“Put the fries in the bag,” said the Wall Street Bank.
Published by James Rubin
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