Franklin Templeton Files for ETFs That Reinvest Stock Dividends in Bitcoin

Franklin Templeton filed registration documents with Nasdaq for two proposed exchange-traded funds intended to hold U.S. stocks and use dividend income to buy Bitcoin, with a cited target of a 5% Bitcoin allocation. The products are the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF, registered on Nasdaq under Franklin Templeton ETF Trust. Nate Geraci, president of NovaDius Wealth Management, highlighted the filings in an October 26 post and described the structure as stock investing whose dividends go into Bitcoin. The registration incorporates share descriptions from an SEC post-effective amendment filed October 22, but it does not show that trading has started or set a launch date.