Mon, Jul 1, 3:59 PM (112 days ago)
The Franklin Bitcoin ETF's 10-K report outlines its financial performance, strategic overview, and risk factors for the fiscal year ended March 31, 2024. The ETF, which began trading on January 11, 2024, aims to mirror the performance of Bitcoin before expenses. Operational highlights include its structure as a Delaware statutory trust and its use of Coinbase Custody Trust Company as the Bitcoin custodian. The fund's primary expense is the Sponsor's fee, set at 0.19% annually, which covers most operational costs. The ETF's financial condition is influenced by Bitcoin's market volatility, regulatory risks, and the evolving digital asset landscape. Key risks include the potential for extreme price fluctuations, cybersecurity threats, and regulatory changes. The ETF's market position could be impacted by competition from other digital assets and financial products. The report also details the operational intricacies of the ETF, including creation and redemption processes, and the roles of various service providers.