Franklin Templeton has reached a milestone that is already attracting attention in the crypto market. The asset management giant has filed an application with the United States Securities and Exchange Commission to expand its Franklin Crypto Index ETF, confirming that Dogecoin will be officially added starting December 1.
The expansion shifts Franklin Templeton’s product from a Bitcoin and Ethereum-focused offering to a more diverse crypto basket that allows investors to access a broader range of digital assets through a single instrument. This comes just days after Franklin Templeton launched its Spot XRP fund.
Franklin Templeton expands into broader multi-asset ETF
The success of Bitcoin and Ethereum ETFs encouraged large institutions look beyond the top two cryptocurrencies and create products covering a wider range of well-known digital assets. Franklin Templeton’s latest move follows this trend by remodeling its Franklin Crypto Index ETF into a broader portfolio that includes several top altcoins, including Dogecoin.
The revised structure takes effect December 1 and moves the ETF toward a design that reflects the market as a whole rather than a concentration of two assets. Franklin Templeton acknowledged this change through an announcement on X, introducing an updated token lineup that now covers everything from large market cap cryptocurrencies like Cardano, Solana, and XRP.
Even within this group, Dogecoin stands out, moving further away from its reputation as a meme-based cryptocurrency and evolving into a more institutionally recognized role.
Dogecoin Enters New Phase of Institutional Exposure
Dogecoin’s inclusion in Franklin Templeton’s expanded ETF comes at a time when the token is already receiving increased attention from traditional finance. The first batch of Spot Dogecoin ETFs only entered the market recently, and this is a step that would have been unthinkable a few years ago.
The gray levels were the first major transmitter with its GDOG product, followed shortly after by Bitwise, which launched its own Dogecoin ETF at the demand of its community.
Anticipated trading activity for these funds was modest compared to to the spectacular debut of Bitcoin and Ethereum ETFs, but it is still too early to tell, as the market could still determine institutional interest in a meme-originated asset wrapped in a regulated structure.
Several other issuers have deposits underway and are preparing to go live with their own Dogecoin products. Some are carefully positioning themselves to see how the first batch of ETFs will perform. According to Eric Balchunas, senior ETF analyst at Bloomberg, there are are probably on 100 crypto-based ETFs await launch in the next six months.
Featured image from Pngtree, chart from Tradingview.com
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