Franklin Templeton Cuts EZBC Expense Ratio to 0.19%

Franklin Templeton's EZBC has reduced its expense ratio to 0.19%, making it the cheapest fund among new spot bitcoin ETFs. The reduction, filed with the Securities and Exchange Commission, follows a battle for market share among providers.

The fund, launched on January 11, 2024, seeks to reflect the price of bitcoin less fund expenses, targeting the Cboe BZX Exchange. It currently manages $420 million in net assets, outperforming Invesco's BTCO at $388 million. EZBC is a passive investment vehicle that does not use hedging techniques to reduce risks.

The 2025 return for EZBC was -6.56%, and the fund experienced a maximum drawdown of 53.35% and a current drawdown of 39.21%. The price of bitcoin can decline rapidly due to scaling obstacles, miner behavior, or regulatory changes.