Franklin Templeton’s registration statement for two Bitcoin dividend-reinvestment ETFs has become effective, according to an SEC filing. The company has not announced a launch date; the shares can trade once listed on Nasdaq. The prospectuses say the SEC has neither approved nor disapproved the ETFs.
The Franklin US Equity Bitcoin DRIP Index ETF (FBEQ) and Franklin US Innovation Bitcoin DRIP Index ETF (FIBT) are each set to start with 95% in US stocks and 5% in Bitcoin, with management fees of 0.09% and 0.19%, respectively. The funds are designed to reinvest stock dividends into Bitcoin. For FBEQ, the source says all regular and special dividends will be reinvested, and Bitcoin exposure above 5% will be cut to 4.5% at quarterly rebalancing.
