Franklin Templeton Unveils EZBC, its Spot Bitcoin ETF Offered on Cboe BZX Exchange

Ruholamin Haqshanas

Last updated:

January 12, 2024 02:57 EST | 2 min read

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.Source: Getty ImagesFranklin Templeton has stepped into the digital asset arena with the launch of its spot Bitcoin (BTC) exchange-traded fund (ETF).

Named the Franklin Bitcoin ETF and trading under the ticker symbol EZBC, the fund is specifically designed for U.S. investors and mirrors the performance of Bitcoin.

What sets EZBC apart is its accessibility and simplicity for investors, the platform said in a Thursday press release.

It is made available on the Cboe BZX Exchange, and comes with a competitive expense ratio of just 29 basis points.

“With more than 75 years in asset management, Franklin Templeton has learned the importance of continuously innovating and staying ahead of the disruptive technologies that impact our industry,” Jenny Johnson, President and CEO of Franklin Templeton, said.

“That’s why we’ve been at the forefront of merging blockchain technologies and traditional asset management, and we are proud to add the Franklin Bitcoin ETF to our growing list of offerings.”

Franklin Templeton Establishes Dedicated Team for Digital Assets

The asset manager has also established Franklin Templeton Digital Assets, a dedicated group focused on research and technical development within the digital asset eco.

Per the announcement, the team played a pivotal role in bringing EZBC to fruition.

The group has been actively involved in developing investment offerings, technology platforms, and strategy differentiation to help clients navigate the digital asset landscape effectively.

“Investors continue to demonstrate interest in digital assets and express a desire for a simpler way to allocate to the asset class—one that removes the complexities associated with things like wallets and keys,” Roger Bayston, Head of Digital Assets at Franklin Templeton, noted.

“As a firm, we are well positioned to leverage our in-depth knowledge of blockchain ecos to introduce products like EZBC that serve to further the understanding and accessibility of digital assets within the broader investing community.”

With over 100 ETFs globally and combined assets under management (AUM) exceeding $20 billion, Franklin Templeton is well-equipped to venture into the digital asset ETF space.

Hong Kong to Follow Suit With Bitcoin ETFs

Following the United States’ approval of spot Bitcoin ETFs, a lawmaker in Hong Kong has called on the local government to swiftly follow suit and position the city as a leader in the cryptocurrency space.

Johnny Ng, a member of the Hong Kong Legislative Council, emphasized the importance of fostering innovation and taking proactive steps to solidify Hong Kong’s position as a global hub for virtual assets.

Highlighting the readiness expressed by the Securities and Futures Commission to accept applications for spot bitcoin ETFs, Ng stressed the need for Hong Kong to capitalize on the rapid development and intense competition in the virtual asset sector.

“I hope that Hong Kong… can swiftly secure a position globally, particularly by taking the lead in implementing relevant policies and products in Asia,” he said in a post on X.