Franklin Templeton moves closer to launching two Bitcoin DRIP ETFs on Nasdaq
BTC when published $81,637Now $80,595 ▼ −1.28% since it was published
Franklin Templeton has registered two Bitcoin dividend reinvestment ETFs for Nasdaq trading, bringing the $1.8 trillion asset manager closer to launching funds that automatically convert stock dividends into Bitcoin exposure. Franklin Templeton has registered two Bitcoin DRIP ETFs for Nasdaq trading under the proposed tickers FBEQ and FIBT, although a launch date has not been announced. Both funds will initially allocate 95% to US stocks and 5% to Bitcoin investments, with stock dividends used to gradually build BTC exposure. Bitcoin exposure will be capped at 20%, while quarterly rebalancing will reduce allocations above 5% to 4.5%. The two ETFs will charge an annual management fee of 0.09%, with their stock holdings drawn from separate large company and innovation focused indexes.
First reported by crypto.news. This page is a short excerpt; the full text is theirs.
