Asset management behemoth, Franklin Templeton Investments (NYSE:BEN), is seeking regulatory approval to launch a new cryptocurrency index exchange-traded fund (ETF).
What Happened: Franklin Templeton filed an application with the U.S. Securities and Exchange Commission (SEC) seeking approval to launch a new crypto index exchange-traded fund (ETF).
“The fund currently may not hold any digital asset other than bitcoin and ether. It is uncertain whether any digital assets other than bitcoin and ether may in the future be added to the Underlying Index,” said Franklin Templeton in a regulatory filing on Thursday.
As of the filing date, the index was composed of 86.31% Bitcoin (CRYPTO: BTC) and 13.69% Ether (CRYPTO: ETHER). However, the weightage will be “rebalanced and reconstituted” quarterly in March, June, and …
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