Franklin Templeton Files for ETFs That Funnel Stock Dividends Into Bitcoin
From decrypt.co
Global asset manager Franklin Templeton filed with the Securities and Exchange Commission Thursday to launch two exchange-traded funds that reinvest dividends into Bitcoin. The Franklin U.S. Equity Bitcoin DRIP Index ETF and the Franklin U.S. Innovation Bitcoin DRIP Index ETF each hold a basket of U.S. stocks, a VettaFi U.S. large-cap 500 index for one and a VettaFi U.S. innovation 100 index for the other, then systematically reinvest the dividends those companies pay into Bitcoin, rather than back into the shares. The "DRIP" in the funds’ name riffs on the dividend reinvestment plans long used to compound stock ...
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