Asset manager Franklin Templeton has filed for approval of a multi-asset crypto exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). The proposed Franklin Crypto Index ETF aims to provide exposure to the spot prices of Bitcoin and Ether, currently with a weight distribution of 86.31% in Bitcoin and 13.69% in Ether. The ETF will be rebalanced quarterly. Franklin Templeton indicated that future inclusion of other crypto tokens might occur but would depend on regulatory approvals. The filing includes risks such as competition from emerging cryptocurrencies like Solana, Avalanche, and Cardano, which could impact demand for the ETF. This move follows a wave of crypto ETF applications coinciding with political changes, including the recent resignation of former SEC chair Gary Gensler. The current acting SEC chair has brought in new staff to enhance the SEC's approach to cryptocurrency.

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