Franklin Templeton has registered two proposed funds with Nasdaq that would hold US stocks and direct the dividend income into Bitcoin. The filings do not say when trading would begin.
Franklin Templeton registered two proposed exchange-traded funds with Nasdaq that would invest in US equities and put dividend income into Bitcoin. The strategy could give stock investors a way to build Bitcoin exposure without selling shares or making separate cryptocurrency purchases.
Two funds under one trust
The filing names the products the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF. Both are listed for registration on Nasdaq under Franklin Templeton ETF Trust.
However, the registration document does not show that trading has begun or give a launch date. It incorporates a description of the funds' shares from a post-effective amendment filed with the SEC on October 22.
Geraci flags the 5% target
Nate Geraci, president of NovaDius Wealth Management, drew attention to the filings in an X post on October 26. He described the products as ETFs that hold US stock and reinvest dividends into Bitcoin, and said the funds were "targeting 5% BTC allocation."
Geraci also called the structure smart product design and suggested it could give everyday investors an easier route to Bitcoin exposure. Still, his post does not explain how the target would be maintained or how the funds would handle changing Bitcoin prices.
Source: CryptoPotato
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