Franklin Templeton wins Nasdaq approval for 2 dividend-to-BTC ETFs

Franklin Templeton has received Nasdaq approval to list two ETFs that reinvest dividends from U.S. stocks into Bitcoin-related products. The funds are the Franklin U.S. Equity Bitcoin DRIP Index ETF (FBEQ) and the Franklin U.S. Innovation Bitcoin DRIP Index ETF (FIBT). Both ETFs will allocate 95% of assets to U.S. equities and 5% to BTC-related products. FBEQ will invest in 500 large-cap U.S. stocks, while FIBT will focus on 100 Nasdaq-listed innovation companies. Dividends generated by the stock holdings will be invested in BTC-related products instead of being used to buy additional shares or paid out in cash. The BTC allocation will be reset to 4.5% if it exceeds 5% during quarterly rebalancing and will be capped at 20% between rebalancing periods. BTC exposure will be gained through exchange-traded products (ETPs) and both ETFs carry a 0.09% management fee.

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