One of the world’s largest asset management companies, Franklin Templeton, is considering launching a new cryptocurrency private fund that will cover competitive coins and staking rewards.
Franklin CEO: Tokenization is like “steroid securitization,” leading the market through a huge transformation.
Franklin is considering launching a new private fund to allow institutional investors to access competitive coins and provide staking rewards, according to a report from “The Information.”
This move will expand the company’s product range beyond current BTC and ETH funds. As of March 2024, Franklin manages about $1.64 trillion in assets, making it one of the largest investment management companies globally.
The report did not mention which competitive coins the fund will cover.
In addition to focusing on cryptocurrency ETFs, Franklin announced on June 6 that investors on its Benji Investments platform can now use USDC to invest in Franklin OnChain US Government Money Fund (FOBXX).
The fund has assets of approximately $357 million and is the first US mutual fund to use a public blockchain (Polygon) to process transactions and record ownership. Each share is held as a BENJI token and is converted through the Zero Hash crypto infrastructure platform.
Previously, the asset management giant BlackRock’s first tokenized fund, BUID, had surpassed FOBXX in asset size.
Tokenized bond market share
BTC
ETH
FOBXX
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Competitive coins
Read more: BlackRock’s BUIDL surpasses Franklin’s FOBXX in market value within six weeks, becoming the world’s largest tokenized fund.
The tokenized US bond market continues to grow, and Franklin’s FOBXX has enabled on-chain P2P transactions.