Franklin Templeton Files with SEC for Crypto Index ETF
Date: 2025-02-07 Author: Gabriel Deangelo Categories: BUSINESS
Investment firm Franklin Templeton has filed with the U.S. Securities and Exchange Commission (SEC) to create a multi-asset cryptocurrency exchange-traded fund (ETF). The move joins a growing list of crypto ETF filings since Donald Trump took office.
If approved, the Franklin Crypto Index ETF would provide exposure to spot prices of Bitcoin and Ether in a single fund that trades on the Cboe BZX Exchange. The fund’s holdings would be determined by their market capitalization, according to a Feb. 6 filing with the SEC.
As of the filing date, the fund had an asset allocation of 86.31% Bitcoin and 13.69% Ether. The index is expected to be reviewed and adjusted quarterly in March, June, September, and December.
This follows a similar filing by Bitwise, which filed on January 31 to launch the Bitwise Bitcoin and Ethereum ETF.
Franklin Templeton also allowed for the possibility of including additional cryptocurrencies in the fund in the future, but only after receiving approval from the SEC and the Cboe BZX Exchange. However, the company emphasized that there is no guarantee that the fund will include any digital assets other than Bitcoin and Ether.
The filing also noted potential risks for investors. In particular, competition from other cryptocurrencies such as Solana, Avalanche, and Cardano could impact demand for the Franklin Templeton ETF.
While speculation around a possible Solana ETF continues, analyst James Seyffart recently said that such funds may not appear until 2026, as the SEC traditionally reviews such applications within 240 to 260 days.
On the same day as Franklin Templeton’s filing, Cboe BZX Exchange filed documents to launch four XRP spot ETFs from firms including Canary Capital, WisdomTree, 21Shares, and Bitwise.
The surge in crypto ETF filings comes amid changes in the SEC’s leadership since Trump’s inauguration, including the resignation of former SEC Chairman Gary Gensler on January 20. Interim SEC Chairman Mark Uyeda is considered a cryptocurrency advocate, having recently appointed the former Coin Center policy director to the SEC’s Cryptocurrency Working Group.
