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Franklin Templeton Investments, a trillion-dollar asset manager, has proposed a Bitcoin and Ethereum index exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC).
Named the Franklin Templeton Bitcoin & Ethereum Crypto Index ETF, the fund aims to provide investors with exposure to both leading cryptocurrencies without directly owning them.
The ETF will comprise Bitcoin, Ethereum, and cash equivalents, simplifying access to the crypto market. BNY Mellon will manage the fund, while Coinbase Custody will oversee the digital assets. Its performance will be tracked against the CF Institutional Digital Asset Index.
This ETF is the first to combine Bitcoin and Ethereum in one investment, appealing to both institutional and retail investors. It will be structured in 50,000 share blocks, priced based on the net asset value of the underlying assets, and will not engage in staking.
Franklin Templeton’s filing reflects its push into blockchain technology, having recently integrated the OnChain U.S. Government Money Market Fund into the Aptos blockchain.
SEC approval is required for the ETF’s launch, with the proposal emphasizing protections against fraud and market manipulation. This move comes amid heightened interest in crypto ETFs, despite regulatory challenges in the U.S.