Bitcoin ETFs From $1.8 Trillion Giant Franklin Templeton Get Nasdaq Nod

Franklin Templeton, one of the world's largest asset managers with $1.8tn in assets under management, has revealed that it has registered two funds that automatically reinvest their dividends earned from U.S. stocks into Bitcoin-related assets. The two funds are named the Franklin US Equity Bitcoin DRIP Index ETF (FBEQ) and the Franklin US Innovation Bitcoin DRIP Index ETF (FIBT). Rather than focusing on tracking the price of the flagship cryptocurrency like most spot Bitcoin ETFs, the new ETFs will offer a combination of U.S. stock market exposure with a strategy that seeks to slowly accumulate Bitcoin. For starters, the two funds will hold 95% of their portfolio in U.S. equities, with the other 5% in Bitcoin-related assets.

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