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One word might be enough to sum up crypto investing in 2025, according to Franklin Templeton’s Roger Bayston.

Diversification.  

The asset management titan, alongside competitors, launched bitcoin and ether ETFs last January and July, respectively. The SEC earlier this month approved 19b-4s for crypto index funds (from Franklin and Hashdex) that would hold both assets — and potentially other coins in the future. 

“It feels like ETF legal staffs will be busy in the first part of the year,” Bayston, the firm’s digital assets lead, told me. “And I think the story about…

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