Franklin Templeton, one of the world’s largest asset managers, is considering launching a new crypto private equity fund that would cover altcoins and staking rewards.
(Franklin CEO: Tokenization is “securitization on steroids” and is leading the market to undergo a huge change)
Franklin launches crypto private equity fund
Asset management firm Franklin Templeton is considering launching a new private equity fund to give institutional investors exposure to altcoins and offer staking rewards, The Information reported.
The move will expand the company's product offerings beyond its current BTC and ETH funds. As of March 2024, Franklin manages approximately $1.64 trillion in assets and is one of the largest investment management companies in the world.
The report did not mention which altcoins the fund would cover.
(Franklin CEO: Holds BTC, ETH and governance tokens, and is firmly optimistic about Bitcoin investment demand)
RWA Platform Benji Investments
In addition to its focus on crypto ETFs, Franklin also announced on June 6 that investors on its Benji Investments platform can now invest in the Franklin OnChain U.S. Government Currency Fund (FOBXX) using USDC.
The fund, which has approximately $357 million in assets, is the first U.S. mutual fund to use a public blockchain (Polygon) to process transactions and record ownership. Each share is held in BENJI tokens and converted via crypto infrastructure platform Zero Hash.
As previously reported, asset management giant BlackRock’s first tokenized fund, BUID, has surpassed FOBXX in asset size.
(BlackRock’s BUIDL market value surpassed Franklin’s FOBXX within six weeks and has become the world’s largest tokenized fund)
Tokenized bond market share
This article Franklin plans to launch a crypto private equity fund that will invest in alternative coins and provide staking rewards first appeared on Chain News ABMedia.
