Franklin Templeton Clears Final Hurdle For ETFs That Turn Stock Dividends Into Bitcoin
By Micah Zimmerman
AI summary of the source article
Franklin Templeton filed a Form 8-A with the SEC to register two ETFs that convert stock dividends into bitcoin on Nasdaq, with an effective date of October 27.
Why it matters
The DRIP funds extend that strategy to investors who may never buy bitcoin on their own.
Key facts
- Franklin Templeton filed to register the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF on Nasdaq.
- The funds reinvest regular and special stock dividends into bitcoin, starting with a portfolio allocation of 95% equities and 5% bitcoin.
- The equity fund, ticker FBEQ, carries a 0.09% expense ratio and caps its bitcoin allocation at quarterly rebalances to 4.5%.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Franklin Templeton Clears Final Hurdle For ETFs That Turn Stock Dividends Into Bitcoin Franklin Templeton, the $1.7 trillion asset manager, registered two Nasdaq-listed funds yesterday. Both launch with a 95/5 split between U.S. stocks and bitcoin, and every dividend buys more bitcoin. This post Franklin Templeton Clears Final Hurdle For ETFs That Turn Stock Dividends Into Bitcoin…