Franklin Templeton Makes Crypto History with EZPZ ETF Expansion
Franklin Templeton's EZPZ ETF expands beyond Bitcoin and Ethereum to include XRP, Solana, Dogecoin, Cardano, Stellar, and Chainlink. The December 1 expansion marks a watershed moment for diversified crypto investing as regulatory clarity improves under the Trump administration.
Franklin Templeton has officially expanded its Franklin Crypto Index ETF (EZPZ) to include XRP, Solana, Dogecoin, Cardano, Stellar Lumens, and Chainlink, marking a watershed moment for diversified cryptocurrency investing. The expansion, which goes live December 1, 2025, transforms EZPZ from a Bitcoin-Ethereum fund into one of the most comprehensive crypto ETFs available to U.S. investors.
What Changed and Why It Matters
The expansion became possible following new Cboe BZX Exchange rules approved by the SEC that allow index-based ETFs to hold any asset included in their underlying benchmark. Previously, crypto ETFs were restricted primarily to Bitcoin and Ethereum.
EZPZ now tracks the CF Institutional Digital Asset Index – US Settlement Price, which is rebalanced quarterly and reflects market demand and updated asset weightings. The fund initially launched in February 2025 with approximately 87% Bitcoin and 13% Ethereum allocation.
"The fund is permitted to hold additional digital assets that are constituents of the Underlying Index," stated Franklin Templeton in its latest SEC filing.
Regulatory Breakthrough Under Trump Administration
This development aligns with the broader crypto-friendly regulatory environment since Donald Trump's inauguration on January 20, 2025. Trump's commitment to making the United States the "global capital of cryptos" has materialized through increased regulatory clarity and approval of diverse crypto investment products.
Bloomberg Intelligence expects "relatively high odds of approval across the board" for new crypto ETF filings, with over 150 cryptocurrency-based exchange-traded product filings currently tracking 35 different digital assets.
Market Context and Competition
The expansion comes at a strategic time for Franklin Templeton, which has rapidly built one of the most comprehensive crypto ETF suites on Wall Street. The firm's digital asset offerings now include:
- Franklin Bitcoin ETF (EZBC) - launched January 2024
- Franklin Ethereum ETF (EZET) - launched July 2024
- Franklin XRP ETF (XRPZ) - launched November 2025
- Franklin Crypto Index ETF (EZPZ) - expanded December 2025
Roger Bayston, Franklin Templeton's Head of Digital Assets, emphasized their strategy focuses on "diversified exposure" rather than just single-asset ETFs. The firm manages $501 million in its Bitcoin ETF and $65 million in its Ethereum ETF, with total assets under management of $1.7 trillion.
Enhanced Operational Features
Beyond expanding holdings, Franklin Templeton has upgraded EZPZ's operational structure. Authorized participants can now create and redeem shares using actual crypto assets rather than just cash, which should improve tracking performance and liquidity.
The ETF maintains a 0.19% annual sponsor fee, with custody services provided by Coinbase.
XRP/Ripple Analysis: Strategic Positioning
The inclusion of XRP in EZPZ represents significant validation for Ripple's digital asset, particularly following years of regulatory uncertainty. Franklin Templeton's decision to include XRP in both its diversified ETF and as a standalone product (XRPZ) signals institutional confidence in the asset's long-term prospects.
Price Impact Potential: XRP gained over 7% following Franklin Templeton's recent ETF launches, trading at $2.24. The inclusion in EZPZ provides additional institutional exposure beyond single-asset XRP ETFs.
Business Operations: For Ripple, institutional ETF adoption validates XRP's utility beyond speculative trading. David Mann, Franklin Templeton's Head of ETF Product and Capital Markets, described XRP as playing "a foundational role in global settlement infrastructure".
Adoption Prospects: The ETF structure eliminates custody complexities for institutional investors, potentially accelerating XRP adoption among pension funds, endowments, and wealth management firms previously hesitant to hold crypto directly.
Regulatory Standing: Franklin Templeton's inclusion of XRP in regulated ETF products suggests confidence in the asset's regulatory clarity, particularly important given XRP's historical SEC challenges.
Broader Market Implications
The EZPZ expansion reflects growing institutional appetite for diversified crypto exposure. Bloomberg Senior ETF analyst Eric Balchunas predicted over 100 new crypto ETFs will launch in the next six months.
This diversification trend contrasts with the single-asset focus of earlier crypto ETFs and may signal maturation of the crypto investment landscape. Rather than betting on individual cryptocurrencies, institutional investors increasingly seek broad-based exposure to the digital asset ecosystem.
Looking Forward
Franklin Templeton's EZPZ expansion represents more than portfolio diversification—it signals institutional crypto investing's evolution toward comprehensive digital asset strategies. As regulatory frameworks solidify and market infrastructure matures, diversified crypto ETFs like EZPZ may become the standard for institutional digital asset allocation.
The quarterly rebalancing mechanism ensures the fund remains responsive to market developments and index changes, positioning it to adapt as the cryptocurrency landscape continues evolving.
For investors seeking broad cryptocurrency exposure without the complexity of managing multiple digital assets, EZPZ's expanded lineup offers unprecedented diversification within a single, regulated investment vehicle.
Sources
- CoinGape - Franklin Crypto Index ETF Adds XRP, Solana, and Dogecoin
- Bitcoin Ethereum News - Franklin Templeton Expands Crypto ETF
- MoneyCheck - Franklin Templeton ETF Expansion
- The Block - Franklin Templeton Post-XRP ETF Launch
- CoinDesk - Franklin Templeton Joins XRP ETF Race
- Yahoo Finance - XRP Jumps as Franklin Templeton Debuts Latest Crypto ETF
- AInvest - Franklin Templeton Launches Second US Crypto ETF
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