New Franklin Crypto Index ETF Seeks SEC Approval
The post New Franklin Crypto Index ETF Seeks SEC Approval appeared on BitcoinEthereumNews.com.
Key Points: Franklin Templeton has proposed a Bitcoin and Ethereum ETF to the SEC, aiming to offer investors exposure to both cryptocurrencies in a single index fund. If approved, the Franklin Crypto Index ETF will be the first ETF to combine Bitcoin and Ethereum. Franklin Templeton, one of the global asset managers entrusted with trillions in assets under management, has filed with the U.S. Securities and Exchange Commission to offer a new cryptocurrency ETF. Read more: Franklin Templeton Money Market Fund Launched on Aptos Franklin Crypto Index ETF to Offer Combined Exposure to Leading Cryptocurrencies The proposed fund will be named the Franklin Templeton Bitcoin & Ethereum Crypto Index ETF and will try to get investors closer to the two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum. The move comes at a time when interest in cryptocurrency investments is growing among institutional and retail investors who want diversified access to digital assets. The Franklin Crypto Index ETF will hold Bitcoin, Ethereum, cash, and short-term securities with a maturity of less than three months. It presents an avenue for investors to get into the very volatile crypto market without owning the assets themselves. The new ETF will track the CF Institutional Digital Asset Index, an index benchmarking the price performance of Bitcoin and Ethereum based on prevailing market conditions. BNY Mellon, a global investment company and the premier provider of financial services will serve as custodian and transfer agent for the Franklin Crypto Index ETF. Underlying digital assets, Bitcoin and Ethereum, shall be custodied with Coinbase Custody for safekeeping and accounting. The Creation Baskets for the Franklin Crypto Index ETF will be in lots of 50,000 shares and are valued at the net asset value of the underlying Bitcoin and Ethereum. The SEC Review Could Give the First Dual Crypto…
Filed under: News - @ October 3, 2024 4:15 am