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Franklin Templeton proposes new ETFs that turn corporate dividends into bitcoin
Key takeaways
- In recent years, experts have recommended that investors allocate 1%-5% of their portfolios to bitcoin BTC$62,590.19, hailing the cryptocurrency as a diversifier.
- Now Franklin Templeton, which manages billions of dollars for clients, is looking to offer two alternative investment vehicles that do just that.
- In a Thursday filing with the Securities and Exchange Commission, the company registered the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF.
In recent years, experts have recommended that investors allocate 1%-5% of their portfolios to bitcoin BTC$62,590.19, hailing the cryptocurrency as a diversifier.
Now Franklin Templeton, which manages billions of dollars for clients, is looking to offer two alternative investment vehicles that do just that. The key feature is that the proposed exchange-traded funds use corporate dividends to buy exposure to bitcoin, creating an indirect, steady source of demand for the largest cryptocurrency.
In a Thursday filing with the Securities and Exchange Commission, the company registered the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF.
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