Franklin Templeton has introduced a new cryptocurrency ETF under the ticker EZPZ, offering investors exposure to Bitcoin and Ethereum. This new product expands the company's digital asset offerings following its launch of Bitcoin and Ethereum ETFs last year.
Features of EZPZ ETF
The EZPZ ETF tracks the price of Bitcoin and Ethereum according to CF Benchmarks’ Digital Asset Index, which includes cryptocurrencies most compliant with international financial laws. The index distributes investments according to market capitalization: 82% in Bitcoin and 18% in Ethereum. EZPZ has an expense ratio of 0.19%, making it one of the cheapest cryptocurrency investment offerings. Roger Bayston, Franklin Templeton’s head of digital assets, stressed that the firm aims to make digital assets available to a wide range of investors.
Growth of Franklin Templeton's Crypto Initiatives
Franklin Templeton continues to strengthen its presence in the crypto industry. Although the company's Bitcoin ETF ranks ninth in assets among 11 similar products in the U.S., it significantly lags behind BlackRock's ETF in terms of asset volume. The Ethereum ETF also trails industry leaders. Nevertheless, Franklin Templeton actively interacts with the crypto community, as evidenced by recent social media posts.
Institutional Adoption of Cryptocurrency
Institutional adoption of cryptocurrencies continues to grow. For instance, Mubadala Investment Company from Abu Dhabi recently invested in BlackRock's Bitcoin ETF. This indicates increased interest from international financial institutions in crypto assets. Franklin Templeton aims to offer strategic opportunities for investors looking for diversified investments in cryptocurrencies without the hassle of direct ownership.
The launch of Franklin Templeton's new cryptocurrency ETF EZPZ offers investors access to key digital assets at a low cost, marking a significant step in the company's digital strategy.
