Franklin Templeton files for Bitcoin and Ether ETF as Bitcoin holds $100K support

Source: Crypto Briefing

Share this article

Franklin Templeton has submitted a filing for a dual crypto index ETF that would track both Bitcoin and Ether through its proposed Franklin Crypto Trust.

The filing, submitted by the Cboe BZX Exchange, follows the SEC’s decision on November 20 to extend its review period for Franklin Templeton’s crypto index ETF.

Bloomberg analysts suggest that dual Bitcoin and Ether ETFs, including Franklin Templeton’s proposal alongside those from Bitwise and Hashdex, are among the most likely to gain approval in 2025.

This optimism is supported by the appointments of Paul Atkins as SEC chairman and David Sacks as crypto czar, along with Trump’s favorable stance on digital assets.

The Franklin Crypto Index ETF aims to replicate the CF Institutional Digital Asset Index, tracking Bitcoin and Ether based on their market capitalization weights.

The ETF will hold only Bitcoin, Ether, cash, and cash equivalents, ensuring alignment with its objective to closely mirror the index’s performance.

Additionally, the fund avoids staking Ether or earning income from forks or airdrops, focusing solely on its primary investment strategy.

Meanwhile, Bitcoin’s price has stabilized above $100,000, a critical support level, following recent market fluctuations.

This stabilization follows the Federal Reserve’s hawkish comments after a 25-basis-point rate cut.

However, Powell’s remarks about higher inflation expectations for 2025 and a projection of only two rate cuts next year sent markets tumbling.

Despite this, Bitcoin holding the $100,000 range is crucial for sustaining upward momentum and maintaining a bullish outlook as the year ends.

Share this article

Go to Source
Author: Estefano Gomez