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Franklin Templeton Weighs New Crypto Fund Investing in Tokens Beyond Bitcoin, Ether: Report
The private fund would offer exposure to a range of cryptocurrencies and potentially provide staking rewards, The Information reported.
Updated Jun 6, 2024, 2:58 p.m. Published Jun 6, 2024, 2:55 p.m.
- The fund would target institutional investors, according to the report.
- The asset manager already has a spot bitcoin ETF and has applied for a similar ether offering.
Franklin Templeton, the $1.6 trillion U.S. Silicon Valley asset manager, is considering a new crypto-focused investment fund, The Information reported Thursday citing people with direct knowledge of the effort.
The investment vehicle would be structured as a private fund targeting institutional investors and invest in cryptocurrencies beyond bitcoin and ether . The asset manager is also thinking about passing staking rewards on to the fund's investors, according to the report.
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Franklin Templeton is one of several traditional finance heavyweights venturing into the digital asset industry to offer crypto and tokenized asset investments to clients.
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It started a spot bitcoin exchange-traded fund (ETF) in the U.S. earlier this year and applied to list a similar offering for the second-largest crypto asset, ether. It also opened a tokenized U.S. government bond fund using the Stellar network in 2021, years before BlackRock did.
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