Franklin Templeton moves closer to launching two Bitcoin DRIP ETFs on Nasdaq

Franklin Templeton has registered two Bitcoin dividend reinvestment ETFs for Nasdaq trading, bringing the $1.8 trillion asset manager closer to launching funds that automatically convert stock dividends into Bitcoin exposure. Summary Franklin Templeton has registered two Bitcoin DRIP ETFs for Nasdaq trading under the proposed tickers FBEQ and FIBT, although a launch date has not been announced. Both funds will initially allocate 95% to US stocks and 5% to Bitcoin investments, with stock dividends used to gradually build BTC exposure. Bitcoin exposure will be capped at 20%, while quarterly rebalancing will reduce allocations above 5% to 4.5%. The two ETFs will charge an annual management fee of 0.09%, with their stock holdings drawn from separate large company and innovation focused indexes. According to an October 22 SEC filing, the Franklin US Equity Bitcoin DRIP Index ETF and Franklin US Innovation Bitcoin DRIP Index ETF have completed their securities registration under Section 12(b) of the Securities Exchange Act of 1934. The funds are expected to trade under the tickers FBEQ and FIBT, respectively, although the filing does not specify when trading will begin. Both ETFs will in...