Franklin Templeton files for Bitcoin and Ether ETF as Bitcoin holds $100K support

Key Takeaways

Franklin Templeton crypto ETF double filing comes as Bitcoin stabilizes at $100K, a critical support level for a market move.
Analysts predict that the SEC may approve the Franklin Templeton ETF alongside similar proposals from Bitwise and Hashdex next year.

Franklin Templeton has a to file for a dual crypto index ETF that would track both Bitcoin and Ether through the proposed Franklin Crypto Trust.

The filing, filed by the Cboe BZX Exchange, follows the SEC decision on November 20 to extend its review period for the Franklin Templeton ETF crypto index.

Bloomberg analysts praise that a dual Bitcoin and Ether ETF, including Franklin Templeton's proposal along with those from Bitwise and Hashdex, are among the most likely to be approved in 2025.

This hope is supported by the appointment of Paul Atkins as chairman of the SEC and David Sacks as crypto czar, along with Trump's favorable stance on digital assets.

The Franklin Crypto Index ETF aims to replicate the CF Institutional Digital Asset Index, tracking Bitcoin and Ether based on their market capitalization weights.

The ETF holds only Bitcoin, Ether, currency, and currency equivalents, ensuring that it is consistent with its goal of closely reflecting the performance of the index.

In addition, the fund avoids holding Ether or earning income from forks or airdrops, focusing directly on its core investment strategy.

Meanwhile, the price of Bitcoin has stabilized above $100,000, a critical support level, following a recent market reversal.

This stability follows the Hawkish comments from Federal Reserve after a 25-point base rate cut.

However, Powell's comments about higher inflation expectations for 2025 and a projection of just two rate cuts next year sent markets tumbling.

Nevertheless, Bitcoin is holding the $100,000 area essential for maintaining upward momentum and maintaining a supportive outlook as the year comes to an end.