Nasdaq Greenlights Franklin’s Bitcoin DRIP ETFs—Dividends Go Crypto

Nasdaq has approved the listing of two Bitcoin ETFs from Franklin Templeton, the global asset manager with $1.8 trillion in assets under management. According to Franklin Templeton’s latest SEC filing, the Franklin US Equity Bitcoin DRIP Index ETF and Franklin US Innovation Bitcoin DRIP Index ETF are cleared to list and trade on Nasdaq under the tickers FBEQ and FIBT, respectively.

Both ETFs track VettaFi indexes that combine traditional equity exposure with a rules-based Bitcoin allocation. Instead of distributing stock dividends or reinvesting them in additional shares, the DRIP strategy directs dividends into Bitcoin.

The indexes begin with 95% in U.S. stocks, using either a large-cap 500 universe or a 100-stock innovation-focused Nasdaq list. The remaining 5% is allocated to Bitcoin-related instruments.

Franklin’s spot Bitcoin ETF (EZBC) has drawn $335 million in total inflows.