Franklin Templeton has launched a new cryptocurrency ETF (under the ticker EZPZ), exposing investors to Bitcoin and Ethereum.
This latest product, listed on the Cboe BZX Exchange on Thursday, expands the asset manager’s digital asset offerings after it launched its spot Bitcoin and Ethereum ETFs last year.
EZPZ ETF offers low-cost Bitcoin and Ethereum exposure
The EZPZ ETF follows the price movements of Bitcoin and Ethereum according to CF Benchmarks’ Institutional Digital Asset Index, which seeks the two most compliant cryptocurrencies under international financial law. Rather than focus on a single asset, the index distributes investments in accordance with market capitalization, with 82% of an investment in EZPZ exposed to Bitcoin while the remaining 18% is correlated to Ethereum’s price movement.
EZPZ, for its part, has an expense ratio of 0.19%, making it one of the cheapest cryptocurrency investment offerings on the market. Roger Bayston, Franklin Templeton’s head of digital assets, said the firm aimed to make digital asset exposure more available to everyday investors.
Bayston said in a press release that blockchains are becoming powerhouses for today’s and tomorrow’s information and data economy. He noted that they are bringing EZPZ to market as a simple, low-cost way to gain exposure to this now large and significant asset class.
Franklin Templeton expands crypto efforts but trails industry giants in AUM
Franklin Templeton’s entry into cryptocurrency continues to grow. While its Franklin Bitcoin ETF (EZBC) has $708 million in assets under management (AUM)—ranking ninth out of 11 U.S. spot Bitcoin ETFs—it lags far behind the $56.6 billion in AUM for BlackRock’s iShares Bitcoin ETF (IBIT). Franklin Templeton’s Ethereum ETF (EZET) is seventh in its category, with $34 million in AUM.
The asset management company actively engages with the crypto community even though it still substantially trails competitors in AUM. The firm’s digital assets division shared a lighthearted image earlier this week on X featuring Benjamin Franklin donning a hat that looks like a McDonald’s uniform. The image referred to a common Crypto Twitter meme about traders struggling in such difficult market conditions. The caption said, “Putting the fries in the bag.”
Franklin Templeton is one of several large asset managers on the march into digital assets. Competitors like BlackRock, Fidelity, and Grayscale have been eyeing spot Bitcoin and Ethereum ETFs with growing investor interest.
Institutional adoption of crypto is still on the rise. Earlier this month, Mubadala Investment Company — Abu Dhabi’s sovereign wealth fund — reported it had acquired $436 million worth of shares in BlackRock’s Bitcoin ETF, indicating increased interest from international financial institutions.
With Franklin Templeton making strides in the digital assets space, EZPZ serves as a strategic growth opportunity to provide investors with diversified exposures to cryptocurrencies in a cost-efficient structure that is ideal for investors looking for long-term crypto investment without direct ownership headaches.
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