Franklin Templeton’s bitcoin dividend ETFs debut with $72,000 in first-day trading

Franklin Templeton launched two new exchange-traded funds (ETFs) on Nasdaq, designed to reinvest portfolio company dividends in bitcoin. The first day of trading for the two funds, the Franklin US Equity Bitcoin DRIP Index ETF (FBEQ) and the Franklin US Innovation Bitcoin DRIP Index ETF (FIBT), saw a combined trading volume of approximately $72,000, according to Unchained’s review of Nasdaq’s daily trading figures. FBEQ traded 2,461 shares, corresponding to around $62,000 based on its closing price of $25.28. FIBT recorded a volume of 399 shares, equating to roughly $9,800 at a close of $24.52. Both ETFs structure their indexes to reinvest any cash dividends paid by underlying companies directly into bitcoin, increasing the funds’ bitcoin exposure between regular rebalancing periods. The ETFs use indexes managed by VettaFi.

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