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Confirming that even large, season asset managers with long-running ties to the mutual fund space are forces in the cryptocurrency exchange traded funds (ETFs) space, Franklin Templeton is a player in this realm and a credible one at that.
The company, which has more than $35 billion in ETF assets under management, has an expansive lineup of ETFs issued under the Brandywine, Franklin and Putnam brands, among others. Perhaps to the surprise of some advisors and retail investors that are familiar with the firm, Franklin Templeton issues five cryptocurrency ETFs.
The Franklin Solana ETF (NYSE: SOEZ) debuted on Dec. 3 and the Franklin Bitcoin ETF (CBOE: EZBC) is home to $525.48 million in assets under management, but the fund we’re examining today is the Franklin Crypto Index ETF (Cboe: EZPZ), which debuted in February.
EZPZ Changing with Crypto Times
EZPZ is worth mentioning not only because of its cute ticker, but because it’s being refreshed – a move that reflects professional money managers’ views that there are digital currency opportunities beyond Bitcoin.
When EZPZ launched earlier this year, it was comprised of Bitcoin and Ethereum – the two largest digital assets – but its index has expanded to include other cryptocurrencies. The CF Institutional Digital Asset Index now features exposure to XRP, Solana, Dogecoin, Cardano, Stellar Lumens, and Chainlink in addition Bitcoin and Ether.
In other words, EZPZ is now something of an altcoin ETF with the benefit of bitcoin exposure, which can defray some of the risks associated with altcoins, though to be to the ETF and its new look, its altcoin roster is mostly legitimate.
“This expanded set of holdings enhances EZPZ’s ability to pursue broad, market-level representation—reinforcing its aim to serve as a beta for crypto solutions built around both established and emerging blockchain networks,” according to the issuer.
EZPZ Ready for Next Generation
Alright so as things stand today, EZPZ is a new ETF and it’s not particularly large (yet), but those points don’t diminish the relevance of the aforementioned alterations. The expansion of EZPZ’s index signals broadening awareness of crypto opportunities and that investors want efficient access to that opportunity set.
“Investors are looking beyond the first generation of digital assets for exposure to networks demonstrating real-world adoption at scale, strong community, or functional utility across payments, smart contracts, or data connectivity,” said Roger Bayston, Head of Digital Assets at Franklin Templeton, in a statement. “With the index now capturing this broader set of use cases, EZPZ offers a regulated ETF structure that evolves alongside the digital asset ecosystem.”
Plus, EZPZ charges just 0.19% per year, or $19 on a $10,000 investment, making it cost-efficient among cryptocurrency ETFs, particularly the multi-token funds.