Franklin Templeton has filed exchange-registration applications with the Securities and Exchange Commission for two exchange-traded funds combining US equities and Bitcoin on Nasdaq. The Franklin US Equity Bitcoin DRIP Index ETF, ticker FBEQ, and the Franklin US Innovation Bitcoin DRIP Index ETF, ticker FIBT, would reinvest regular and special equity dividends into Bitcoin after the ex-dividend date. The indexes would start with 95% equities and 5% Bitcoin; at quarterly rebalancing, any weighting above 5% would be reduced to 4.5%, while a breach above 20% between reviews would trigger a reset to 4.5%. Proposed annual management fees are 0.09% and 0.19%, respectively, with an October 27 effective date, although the filings do not mean the funds have begun trading. Unlike the more concentrated EZBC, which holds Bitcoin and cash, these funds would keep most of their exposure in equities, while investors would own ETF shares rather than Bitcoin in a personal wallet.
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