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Franklin Templeton’s Dividend-to-Bitcoin ETFs Open on Nasdaq With About $72,000 in Trades
FBEQ and FIBT, which first traded on Thursday, build their bitcoin slice from dividends and reach it through ETPs, derivatives and depositary receipts rather than holding bitcoin directly, per their prospectuses.
Dextape brief
Franklin Templeton's FBEQ and FIBT, funds whose indexes send company dividends into bitcoin, began Nasdaq trading on Thursday, October 29. Unchained's tally of Nasdaq data shows about $72,000 in combined activity: 2,461 FBEQ shares near $62,000 at a $25.28 close, and 399 FIBT shares near $9,800 at $24.52. Prospectuses dated October 27 list annual fees of 0.09% for FBEQ and 0.19% for FIBT, and neither carries a 12b-1 distribution charge. Bitcoin exposure comes via exchange-traded products, futures and options, and depositary receipts. VettaFi runs both indexes, starting at 95% stocks and 5% bitcoin and converting every dividend into bitcoin. Quarterly reviews trim any bitcoin weight above 5% to 4.5%, and the article says results depend on payouts and bitcoin's price.
Why it matters: It shows an established asset manager packaging bitcoin exposure into exchange-traded funds that route company dividends into the token.
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