Franklin Templeton Files for a New Crypto Index ETF

Franklin Templeton Investments has announced its plans to launch a new crypto index exchange-traded fund, pending regulatory approval.

This move comes as asset managers see the potential for profit in the growing popularity of cryptocurrencies, especially in the wake of Donald Trump’s victory in the US presidential elections. During his campaign, Trump expressed his support for digital assets and promised to make the US a leader in the industry, even vowing to stockpile Bitcoin on a national level.

The Securities and Exchange Commission, which previously had concerns about investor protection, approved Bitcoin and Ether ETFs last year.

This has opened up investment opportunities for a wider range of investors, including institutional investors. Other firms have also applied for approval to launch ETFs for other cryptocurrencies such as Solana and XRP, but their requests are still awaiting approval.