Franklin Templeton Launches New Index-Based ETF Tracking Bitcoin and Ether Prices on NYSE
Mumbai, February 20, 2023 – Franklin Templeton, a leading global investment management organization, has announced the launch of a new exchange-traded fund (ETF) designed to track the prices of Bitcoin and Ether on the New York Stock Exchange (NYSE).
The ETF, which is listed under the ticker symbol BEN, is the latest addition to Franklin Templeton’s growing suite of financial products. The index-based fund will track the performance of the FXBFE Index, which is designed to reflect the price performance of the two most prominent digital currencies, Bitcoin (BTC-USD) and Ether (ETH-USD), via a basket of futures-based and cash-based instruments.
The FXBFE Index is designed to provide a transparent and efficient way to gain exposure to the performance of these two major cryptocurrencies, which have gained significant popularity in recent years. The index is rebalanced quarterly to maintain a 60% allocation to Bitcoin and 40% allocation to Ether.
"We are excited to bring this new ETF to market, as it allows institutional and individual investors to gain exposure to the rapidly growing digital asset class," said Michael Tatshadi, Head of Index Equity at Franklin Templeton. "Our new ETF is designed to provide a cost-effective and convenient way to gain exposure to the performance of Bitcoin and Ether, with the added benefit of being listed on the NYSE, one of the most trusted and liquid markets in the world."
The new ETF will be managed by Franklin Templeton’s experienced team, who have a strong track record of delivering strong performance in various market conditions. The fund is expected to be a game-changer in the digital asset management space, offering investors the opportunity to diversify their portfolios and tap into the growing demand for cryptocurrencies.
"We believe that the launch of our new ETF is a significant milestone in our efforts to cater to the increasing demand for digital asset management solutions," added Tatshadi. "Our ETF is designed to provide investors with the flexibility to adapt to changing market conditions, while offering the benefits of index-based investing, such as low costs and transparency."
The launch of the BEN ETF marks another important step in Franklin Templeton’s efforts to expand its presence in the digital asset management space, following the launch of its European hedge fund earlier this year. As the financial markets continue to evolve, the company remains committed to providing innovative investment solutions that cater to the changing needs of its clients.
The BEN ETF is open for subscription and is available for trading on the NYSE. For more information about the ETF, please visit fnl.com or consult with a financial advisor.
About Franklin Templeton
Franklin Templeton is a leading global investment management organization with over 60 years of experience. With over $600 billion in assets under management, the company is dedicated to providing innovative investment solutions to individual, institutional, and institutional investors. Franklin Templeton operates in over 20 countries and is a subsidiary of Franklin Resources, Inc. (NYSE: BEN).
