Franklin Templeton's two US stock dividend payouts will be invested in a Bitcoin ETF, which is nearing its launch.
Franklin Templeton's two new Bitcoin DRIP ETFs (FBEQ and FIBT) are nearing launch, with SEC filings set to take effect on October 27. Both funds target a 95% allocation to US stocks and 5% to Bitcoin, automatically reinvesting dividends from their constituent stocks into their Bitcoin exposure. FBEQ tracks a large-cap US stock index with an annual expense ratio of 0.09%; FIBT tracks a 100 innovative companies index with an annual expense ratio of 0.19%. Both funds plan to list on Nasdaq. Their Bitcoin exposure will be constructed through spot ETPs, futures, and a Cayman Islands subsidiary, and will be rebalanced quarterly to reduce the overweighted Bitcoin allocation back to 4.5%. (Source: Bitcoin News)