Franklin Templeton has taken a significant step that is already drawing attention across the crypto market. The asset-management giant has filed with the US Securities and Exchange Commission to broaden its Franklin Crypto Index ETF, confirming that Dogecoin will officially be added beginning December 1. 

The expansion shifts Franklin Templeton’s product from a Bitcoin- and Ethereum-focused offering into a more diversified crypto basket that gives investors access to a broader range of digital assets through a single instrument. This comes just a few days after Franklin Templeton launched its Spot XRP fund.

Franklin Templeton Expands Into A Wider Multi-Asset ETF

The success of Bitcoin and Ethereum ETFs has encouraged major institutions to look beyond the top two cryptocurrencies and build products that cover a wider range of well-known digital assets. Franklin Templeton’s latest move follows that trend by reshaping its Franklin Crypto Index ETF into a more expansive portfolio that includes several leading altcoins, Dogecoin among them.

The revised structure takes effect on December 1 and shifts the ETF to a design that reflects the broader market rather than a two-asset concentration. Franklin Templeton acknowledged this change through an announcement on X, presenting an updated token lineup that now spans everything from large market-cap cryptocurrencies like Cardano, Solana, and XRP. 

Even within that group, Dogecoin stands out, stepping further away from its reputation as a meme-based cryptocurrency and moving into a more institutionally recognized role.

Dogecoin Steps Into New Phase Of Institutional Exposure

Dogecoin’s inclusion in Franklin Templeton’s expanded ETF comes at a moment when the token is already experiencing increased attention from traditional finance. The first batch of Spot Dogecoin ETFs has only recently entered the market, and this is a milestone that would have been unthinkable a few years ago. 

Grayscale was the first major issuer out of the gate with its GDOG product, followed shortly after by Bitwise, which launched its own Dogecoin ETF at the request of its community. 

Early trading activity for these funds has been modest compared to the spectacular debuts once seen with Bitcoin and Ethereum ETFs, but it is still too early to tell, as the market might still be determining how much institutional interest exists for a meme-origin asset wrapped in a regulated structure.

Several other issuers have filings in progress and are preparing for their own Dogecoin products to go live. Some are positioning themselves carefully to see how the first batch of ETFs performs. According to Bloomberg Senior ETF analyst Eric Balchunas, there are likely about 100 crypto-based ETFs waiting to be launched in the next six months.

The US Bitcoin Spot ETFs have produced a positive turnaround following four prior weeks of consistent outflows. In line with Bitcoin’s price recovery, these investment funds also ended a bleeding month of losses on a moderately positive note.

Bitcoin Spot ETFs Begin Recovery From Red November

According to the ETF tracking site, SoSoValue, Bitcoin Spot ETFs registered a net inflow of $70.05 million in the last week of November, to provide relief to a rather draining month. Notably, this reported figure represents the first positive netflow in four weeks, stretching since the last week of October. In analyzing individual ETF performance, BlackRock’s IBIT, valued at $51.55 per share, was largely unaffected by Bitcoin’s recovery, resulting in net outflows of $137.01 million. However, its cumulative net inflow still stands at $62.57 billion, retaining its status as the undisputed market leader. 

Other ETFs that also remained under bearish influence include Bitwise’s BITB and VanEck’s HODL, with aggregate outflows of $18.10 million and $36.95 million, respectively. On the other hand, the majority of the positive momentum came from Fidelity’s FBTC, which registered net inflows valued at around $230.44 million. Meanwhile, Grayscale’s duo GBTC and BTC, alongside Ark Invest’s ARKB, recorded a combined $31.65 million in net deposits.

Other funds such as Invesco’s BTCO, Valkyrie’s BRRR, Franklin Templeton’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI recorded no significant netflow. Following this recent modest recovery, the Bitcoin spot ETFs closed November with total net outflows of $3.48 billion. At the time of writing, the cumulative total net inflow for these investment funds stands at $57.71 billion, while total net assets are valued at $119.39 billion, representing 6.56% of the Bitcoin market cap.

Ethereum ETFs Not Excluded From Recovery Party 

According to SoSoValue, the Ethereum Spot ETFs also experienced a market rebound following three consecutive weeks of outflows. Over the last week, these products attracted net deposits of $312.62 million to bring the cumulative total net inflows to $12.94 billion.

BlackRock’s ETHA and Fidelity’s FETH accounted for the majority of this positive netflow with net deposits of $257.18 million and $45.3 million, respectively. The Ethereum Spot ETFs now boast of total net assets of $19.14 billion, representing 5.19% of ETH’s market cap. At press time, Ethereum continues to trade at $2,991 after a minor 1.64% decline in the past day. Meanwhile, Bitcoin remains in consolidation around $90,840.