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Fund management titan Franklin Templeton has filed an application to launch a crypto index ETF, aiming to provide investors with exposure to both Bitcoin (BTC) and Ethereum (ETH) in a single fund.
According to a Feb. 6 filing with the US Securities and Exchange Commission (SEC), the proposed Franklin Crypto Index ETF would offer exposure to the spot prices of Bitcoin (BTC) and Ethereum (ETH) in a single fund on the Cboe BZX Exchange.
The proposed fund would trade on the Cboe BZX Exchange and adjust its asset weightings quarterly based on market capitalisation.
🚨BULLISH NEWS🚨
FRANKLIN TEMPLETON APPLIES TO SEC FOR A CRYPTO INDEX ETF. pic.twitter.com/OJAqR4sUdo
— Kyle Chassé / DD🐸 (@kyle_chasse) February 7, 2025
The move comes amid surging demand for diversified crypto investment products. In the meme coin sector, Meme Index (MEMEX) has emerged as the first-ever meme coin-focused investment vehicle, surpassing $3.4 million in presale funding just over six weeks after launch.
Offering four curated baskets of meme coins, MEMEX is attracting investors looking for a more diversified way to gain exposure to the explosive meme coin sector.
In addition to Franklin Templeton and MEMEX, asset management giant Bitwise also filed an application to launch the Bitwise Bitcoin and Ethereum ETF on Jan. 31.
Franklin Templeton Crypto Index ETF Will Be Readjusted On A Quarterly Basis
The Franklin Crypto Index ETF’s weighting for each crypto will be based on their respective market caps. These will be reviewed and adjusted if necessary on a quarterly basis.
Franklin Templeton also said that more crypto tokens might be considered for the ETF in the future, but only after the proposed fund and Cboe BZX Exchange receive the “necessary approval” to hold digital assets other than BTC and ETH.
The firm added that there is “no assurance” that cryptos other than Bitcoin and Ethereum will be included in the fund.
Diversified Meme Coin Investing With Meme Index
The growing interest in diversified crypto investment vehicles is helping boost cash inflows into Meme Index, which launched its presale just before Christmas last year.
The project will offer four meme coin investment vehicles after launch: Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index, each of which focus on different groups of meme coins and cater to different risk profiles.
The relatively safer option is the Meme Titan basket, which focuses on the top 10 largest meme coins, while the Meme Frenzy basket comes with the highest risk and focuses on emerging, highly-volatile tokens.
By purchasing MEMEX through the simple buy widget embedded on the project’s website, investors can unlock diversified meme coin exposure.
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