Franklin Templeton continues to expand its cryptocurrency product line after launching a Bitcoin ETF and planning to launch an Ethereum-focused product, Blockworks reported. The fund giant, which manages more than $1 trillion in assets, said on Tuesday it has launched the Franklin Templeton Digital Asset Dynamic BTC/ETH Separately Managed Account (SMA). SMA provides investors with a nuanced investment approach that allows for more customization in terms of asset diversification and tax optimization strategies. In the crypto space, SMA offers investors multiple exposures beyond Bitcoin, which is currently the only crypto asset that U.S. ETFs can hold directly.
The actively managed product aims to outperform a market-cap-weighted portfolio of Bitcoin and Ethereum. The product will be offered to registered investment advisors (RIAs) and other U.S. wealth management firms on Eaglebrook Advisors’ SMA platform. Anchorage Digital will be responsible for custody of the assets.
