Franklin Templeton launches two US equity dividend reinvestment Bitcoin ETFs.

October 29: Asset management giant Franklin Templeton announced the launch of two US-listed ETFs, namely FBEQ, which tracks the VettaFi US Large Cap 500 Bitcoin Dividend Reinvestment Index, and FIBT, which tracks the VettaFi US Innovation 100 Bitcoin Dividend Reinvestment Index, with management fees of 0.09% and 0.19%, respectively. The products initially allocate approximately 95% to US equities and 5% to Bitcoin exposure; the index reinvests regular and special dividends from constituent stocks into Bitcoin after the ex-dividend date, thereby increasing the Bitcoin weighting over time.

To keep Bitcoin as a secondary position, if the Bitcoin weighting exceeds 5% in any quarter, it will be reduced to 4.5%; if it exceeds 20% at any close between quarters, it will be reset to 4.5% two trading days later. The two funds do not directly hold Bitcoin and gain exposure through instruments such as Bitcoin ETPs, futures, and options.