It is with no small measure of astonishment that one learns of the recent venture undertaken by the esteemed Franklin Templeton, who, on the 20th day of February, hath unveiled an exchange-traded fund (ETF) that doth encompass both the illustrious Bitcoin and Ether. Such audacity! 😲
Behold, the Franklin Crypto Index ETF, aptly named EZPZ, emerges as the second of its kind to grace the market, following closely on the heels of the Hashdex, which, on the 14th of February, did launch its own Nasdaq Crypto Index US ETF, known as NCIQ. How delightful it is to witness such competition! 🎉
This EZPZ fund, dear reader, doth hold a veritable cornucopia of assets, as delineated in the US CF Institutional Digital Asset Index, which, as of the aforementioned date, doth only track Bitcoin (BTC) and Ether (ETH). One might say it is a rather exclusive club! 🕵️♀️
As per the estimations of CF Benchmarks, the market capitalization-weighted index doth consist of approximately 87% BTC and a mere 13% ETH. A curious ratio, indeed! 📊
Franklin Templeton hath grand designs for the EZPZ, intending to incorporate additional cryptocurrencies as they are deemed worthy of inclusion in the index, thus aspiring to become the one-stop-shop for crypto portfolios for the discerning US investor. How very convenient! 🛍️
In a rather cheeky proclamation, Franklin Templeton did assert that this fund “provides exposure to bitcoin and ether without the hassle of buying them directly.” Oh, the irony! One must wonder if they are truly alleviating the burden or merely shifting it! 😏
Moreover, it is noted that Hashdex’s NCIQ, whilst currently limited to BTC and ETH, too harbors ambitions of expansion in the future. A most ambitious endeavor! 🌟
Backlog of crypto ETF filings
In a notice dated the 19th of December, the US Securities and Exchange Commission did grant approval to Hashdex’s NCIQ, which doth trade upon the Nasdaq stock exchange. On that very day, the regulator also bestowed its favor upon Franklin Templeton’s EZPZ, which is listed on Cboe BZX. How fortuitous! 🍀
It appears that US regulators are softening their stance on crypto oversight, particularly following the election of Donald Trump, who hath vowed to transform the US into the “world’s crypto capital.” A bold promise, indeed! 🇺🇸
In the year of our Lord 2024, a veritable flurry of regulatory filings hath been submitted by asset managers seeking to list ETFs that hold altcoins, including the likes of Solana (SOL), XRP (XRP), and Litecoin (LTC), among others. Such enthusiasm! 💼
In the month of October, NYSE Arca, a securities exchange, did petition US regulators for permission to list a Grayscale ETF, which would hold a diverse assortment of spot cryptocurrencies. A most intriguing proposition! 🧐
The Grayscale Digital Large Cap Fund, established in 2018 but yet to be traded upon an exchange, doth hold a crypto index portfolio comprising BTC, ETH, SOL, and XRP, among others. Quite the eclectic mix! 🎨
Bloomberg Intelligence doth predict “relatively high odds of approval across the board” for new crypto ETF filings. One can only hope that such optimism is not misplaced! 🤞
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2025-02-20 22:06