February 20 was the day the BTC And ETH ETF by Franklin Templeton launched. The fund EZPZ is listed under the Cboe exchange with its ticker symbol while tracking the CF Institutional Digital Asset Index. The market-cap weighted investment of the new ETF distributes 82 percent through Bitcoin while reserving 18 percent for Ethereum. The fund managed by Coinbase held 22.12 BTC in addition to 123.55 ETH on February 19.
Expanding ETF Portfolio
Franklin Templeton launched EZPZ as its third crypto ETF product behind EZBC and EZET. These previous ETFs have received around $479 million dollars in flows since their launch according to Farside Investors statistics. The existing ETFs launched by Farside Investors have attracted approximately $479 million dollars of investor capital since their availability according to Farside Investors data.
Future Growth Plans
David Mann who is currently leading the ETF at Franklin Templeton, provides investors with a simple and user friendly solutions in order to access blockchain networks at low cost. Furthermore, The company stated that it plans to add more cryptocurrencies into their ETF in the future.
Market Context
The Bloomberg ETF analyst James Seyffart sees the ETF as progress towards broader crypto index ETFs. The reason being that additional digital assets keep receiving regulatory approvals.
New Dual Crypto ETF Launches
In recent news, The SEC has granted the approval for Frankllin Templeton as well as Hashdex to launch their dual crypto ETFs. The EZPZ launch demonstrates rising crypto investment acceptance from traditional markets alongside potential regulatory developments that will expand index based crypto products.
