Franklin Templeton, which manages nearly 1.79 trillion dollars, plans to list two ETFs on Nasdaq that reinvest dividends from US stocks into bitcoin. The Franklin US Equity Bitcoin DRIP Index ETF (FBEQ) will track an index close to the S&P 500 with annual fees of 0.09%, while the Franklin US Innovation Bitcoin DRIP Index ETF (FIBT) will target the 100 largest Nasdaq technology companies. Each fund will start with 95% stocks and 5% bitcoin before investing all dividends into the latter. Quarterly rebalancing will reduce bitcoin to 4.5% if its weight exceeds 5%, while a rise above 20% between quarters will be corrected within two business days. Accumulation will remain limited by dividend yields below 1% annually, and the ETFs will not be available to French investors because they lack the European key information document required for retail distribution.
Source: Read the original article
