Franklin Templeton filed an S-1 with the SEC for a crypto fund under the ticker EZPZ, aligning with its existing crypto fund names.Easy-Peasy: Franklin Templeton Seeks Approval of ETH, BTC Crypto Index ETF
The EZPZ ETF aims to initially include Bitcoin and Ethereum, managed by Coinbase Custody and BNY Mellon, with potential to expand to more cryptocurrencies.
The fund, seeking to list on the Cboe BZX Exchange, would enable in-kind share transactions, reflecting a broader push into diverse crypto assets.
Franklin Templeton has just registered an S-1 form with the US Securities and Exchange Commission (SEC) for a new crypto fund. The fund would be under the ticker EZPZ – a name that’s not only clever and memorable but also fits with their Bitcoin (EZBC) and Ethereum (EZET) fund names.
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The proposed ETF aims to track the CF Institutional Digital Asset Index, initially featuring BTC and ETH, with potential future additions of other cryptocurrencies based on regulatory and market changes.
Coinbase Custody Trust Company will handle the fund’s digital assets, with the Bank of New York Mellon reportedly managing cash and administrative tasks. The ETF seeks approval to list on the Cboe BZX Exchange with plans to enable in-kind creation and redemption of shares using digital assets.
This is not the first endeavour to get a crypto index ETF listed. In July, Hashdex announced it was pursuing approval for a crypto index ETF focusing on Bitcoin and Ethereum, utilising the Nasdaq Crypto Settlement Price Index for price tracking.
Franklin Templeton Ventures Deeper into Crypto
Franklin Templeton has been notably supportive of crypto funds beyond the usual suspects like Bitcoin and Ethereum.
Others, like BlackRock, believe their clients are not too excited, with the firm’s Robert Mitchnick noting their interest “overwhelmingly is in Bitcoin first, and then somewhat in ETH […] and there’s very little interest today beyond those two”.
Earlier in August, Franklin Templeton integrated its OnChain US Government Money Market Fund (FOBXX) with Ethereum’s Arbitrum, this is the third platform integration following Stellar and Polygon.
Since its launch in 2021, FOBXX has generated nearly US$2 billion (AU$2.99 billion) in traded value and is a leader in utilising public blockchains for transactions and fractional ownership. Franklin Templeton is now the third largest in the tokenised government securities market, managing over US$400 million (AU$598.5 million) in assets.Easy-Peasy: Franklin Templeton Seeks Approval of ETH, BTC Crypto Index ETF
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