Franklin Templeton has expanded its cryptocurrency offerings with the launch of a new exchange-traded fund (ETF) that provides exposure to both Bitcoin and Ethereum under a single ticker: EZPZ.
The new ETF, which began trading on the Cboe BZX exchange on Thursday, tracks the CF Benchmark's Institutional Digital Asset Index. The fund allocates 82% of investments to Bitcoin and 18% to Ethereum, reflecting the market capitalization weightings of the two leading cryptocurrencies.
EZPZ represents Franklin Templeton's third crypto ETF product, following its spot Bitcoin ETF (EZBC) and Ethereum ETF (EZET) launched in 2024. Coinbase will serve as the custodian for the fund's assets.
In a move to attract investors, Franklin Templeton has set a competitive expense ratio of 0.19% for EZPZ. The firm plans to waive this fee until August 31, 2025, or until the fund reaches $10 billion in assets under management.
Roger Bayston, head of digital assets at Franklin Templeton, emphasized the fund's role in providing accessible crypto investment options. "Blockchains are emerging as important utilities for the current and future information and data economies," he said. "With EZPZ, we're offering a simple, low-cost way to gain exposure to this growing and important asset class."
The fund aims to expand its holdings in the future by including additional cryptocurrencies as they become eligible under the index criteria, which requires compliance with major financial jurisdictions' regulatory standards.
This launch comes as Franklin Templeton continues to build its presence in the digital asset space, despite its existing crypto ETFs holding relatively modest market shares compared to competitors. The firm's Bitcoin ETF currently manages $708 million in assets, while its Ethereum ETF oversees $34 million.