cryptoslate.com
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.