Franklin Crypto Trust is a Delaware statutory trust that operates a passive exchange-traded fund tracking a diversified index of cryptocurrencies including Bitcoin, Ether, and several other digital assets. The Fund provides retail and institutional investors access to cryptocurrency exposure through secondary market trading on an exchange, eliminating the need for direct cryptocurrency custody; shares are issued to broker-dealers in creation units and are held in cold storage custody with digital asset security provided by a third-party custodian. The Trust generates revenue through a fixed annual sponsor fee calculated as a percentage of net asset value, with the sponsor absorbing most operational costs including administration, custody, and index licensing.