📰 What changed in EZPZ?
On December 1, 2025, Franklin Templeton announced that EZPZ stopped containing only Bitcoin (BTC) and Ethereum (ETH), and now includes a much broader portfolio of cryptocurrencies.
The new added cryptos are: XRP, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Stellar Lumens (XLM), and Chainlink (LINK).
With this, EZPZ shifts from being a 'crypto-beta fund focused on BTC/ETH' to a more 'diversified' ETF, representing a broader portion of the cryptoasset market — which may attract investors looking for general exposure to the sector without having to choose individual tokens.
The fund's methodology is based on a benchmark index (the CF Institutional Digital Asset Index – US Settlement Price), with allocations weighted by market capitalization, and the fund will periodically adjust to reflect changes in that index.
In summary: EZPZ now offers a 'broad basket' of large crypto assets — not just BTC and ETH.
✅ Why does this expansion matter?
This change has several positive implications for the crypto ecosystem and for investors:
Automatic diversification: Instead of relying solely on Bitcoin or Ethereum, investors gain exposure to a set of cryptos with different profiles: smart contract protocols (SOL, ADA), stablecoins/payment utility tokens (XRP), 'meme/high risk' crypto (DOGE), infrastructure (LINK), etc. This reduces the specific risk of a single token.
Regulated and institutional access: EZPZ is a traditional regulated ETF product, making it easier for institutional or conservative investors to gain exposure to crypto without needing wallets, custodial services, or dealing with exchanges. This legitimacy can attract fresh capital.
More liquidity and adoption of altcoins: That a traditional player adds 'major' altcoins to the ETF can increase demand for those tokens, improving liquidity, visibility, and institutional acceptance.
Democratization of access: People who do not want to buy individual tokens can, with a single transaction, buy a diversified basket — simplifying investment in crypto as an asset class.
Signal of market maturity: Shows that large managers are comfortable offering more sophisticated crypto products, suggesting that the market is professionalizing and consolidating.
⚠️ Risks / limitations to be aware of
But this type of expansion also has its warnings:
High volatility: Even with diversification, crypto assets remain volatile; the basket may suffer significant drops if the global crypto market collapses.
Risk of concentration in 'large crypto' — it's not exactly 'traditional diversification': even though there are several tokens, they all remain high-cap and highly correlated with each other, so diversification is not as robust as in a traditional portfolio with different asset classes.
Dependence on the underlying index: The performance of the ETF will depend on the method and reconstitutions of the index — during times of high turnover or sudden changes, the weights may change, affecting returns.
Regulatory and institutional risk: Even though EZPZ is a regulated product, cryptocurrencies remain exposed to regulatory decisions, market events, and regulatory changes, which can generate additional volatility.
🔍 What to watch from now on
How demand evolves towards EZPZ: whether institutional investors adopt the diversified basket or prefer to stick with BTC/ETH only.
Relative performance of included altcoins vs BTC/ETH — to see if diversification brings real benefits or if correlation hinders advantages.
Changes in index methodology or regulations affecting which tokens can be included — this may impact the structure of the ETF.
Inflow/outflow in Franklin Templeton ETFs (not just EZPZ, but also their BTC, ETH, XRP ETFs) — because this can influence liquidity and general demand in the crypto market.
