Franklin Templeton has introduced the Franklin Crypto Index ETF (EZPZ), which offers exposure to Bitcoin and Ethereum.
Franklin Templeton has introduced the Franklin Crypto Index ETF (EZPZ), which offers exposure to Bitcoin and Ethereum. The ETF is custodied by Coinbase, with an initial allocation of approximately 87% Bitcoin and 13% Ethereum. The fund has a sponsor fee of 0.19%, which will be waived until it either accumulates $10 billion in assets or reaches Aug. 31, 2025.
This is Franklin Templeton’s third cryptocurrency ETF, following the Franklin Bitcoin ETF (EZBC) and Franklin Ethereum ETF (EZET), approved in January and June of 2024. The ETF tracks the CF Institutional Digital Asset Index, which currently includes only Bitcoin and Ethereum but may expand to other cryptocurrencies over time.
David Mann, Franklin Templeton’s global head of ETF product and capital markets, stated that EZPZ provides an easy and cost-effective way to gain exposure to the two largest blockchain ecosystems. He also mentioned that the ETF is designed to evolve over time to include more assets as they become eligible. The company emphasized that the ETF allows investors to access crypto price movements without directly purchasing Bitcoin or Ethereum.
The fund is the second cryptocurrency index ETF in the U.S. market, following Hashdex’s Nasdaq Crypto Index U.S. ETF (NCIQ), launched in February 2024. Hashdex’s fund also currently holds only Bitcoin and Ethereum but is expected to expand its holdings.
Meanwhile, the Securities and Exchange Commission (SEC) has acknowledged 21Shares’ filing to add staking to its Ethereum ETF. If approved, this could lead to significant inflows into Ethereum spot ETFs. The regulator is also reviewing multiple applications for ETFs holding altcoins like Solana, XRP, and Litecoin. Bloomberg analysts believe there is a strong chance that some of these applications will be approved.
Franklin Resources, the parent company of Franklin Templeton, recently reported better-than-expected first-quarter earnings. The company posted an adjusted earnings per share of $0.59, above the expected $0.56, and a revenue of $2.25 billion, exceeding the $1.71 billion estimate. Despite this, Franklin Resources experienced $50 billion in net outflows, primarily due to its Western Asset Management division. Analysts noted positive trends in higher gross sales and an unfunded pipeline, which could improve future performance.
TD Cowen and BofA Securities both adjusted their price targets for Franklin Resources to $20. TD Cowen maintained a Hold rating, while BofA Securities kept an Underperform rating. The company has announced plans to cut costs by 5% by early 2027, targeting $200-250 million in savings.
Franklin Templeton, which manages over $32 billion in ETF and ETP assets, has a market capitalization of nearly $11 billion and serves clients in more than 150 countries. The company continues to expand its digital asset offerings while maintaining a 45-year record of consistent dividend payments.
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