Franklin Templeton's two Bitcoin DRIP ETFs, holding about 95 percent stocks and 5 percent bitcoin, are set to take effect on October 27
Franklin Templeton is close to launching two funds that mix US stocks with a small slice of bitcoin. The firm filed a Form 8-A with the SEC on October 22 for the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF, and the prospectus lists October 27 as the effective date, Bitcoin Magazine reported. Both are to list on Nasdaq.
The equity fund, ticker FBEQ, tracks the VettaFi US Large-Cap 500 Bitcoin DRIP Index and has an expense ratio of 0.09 percent, with no 12b-1 fee. The innovation fund tracks the VettaFi US Innovation 100 Bitcoin DRIP Index, built from the 100 largest non-financial Nasdaq-listed companies. Each starts with about 95 percent in US stocks and 5 percent in bitcoin.
The structure gives investors a small, fixed bitcoin allocation inside a conventional stock fund rather than a standalone crypto product. Franklin Advisory Services manages the funds, with Franklin Templeton Institutional as sub-advisor.
What to watch: trading from the October 27 effective date, and the second fund's ticker, which Bitcoin Magazine did not give.
This story is reporting and analysis. It is not financial, legal or tax advice.
- MarketsBitcoin slips below $80,000 to its weakest level in over a month as the US speeds Middle East evacuations, and $820 million in crypto bets are liquidated
- Bitcoin ETFsBitcoin ETFs bleed $636 million in a day, the worst outflow since June, as bitcoin slips to about $81,500
- MarketsDow sinks 650 points as Brent oil settles at a six-month high of $116.72; bitcoin holds near $81,600 as ETFs shed another $138 million
- MarketsBitcoin cracks below $82,000, its biggest slide in about two weeks, as AI doubts hit Tesla and Meta and Chinese stocks enter a bear market, even after ETFs took in more than $1 billion in three days