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Franklin Templeton Explores New Crypto Fund for Institutional Investors

Franklin Templeton Explores New Crypto Fund for Institutional Investors

Franklin Templeton, a prominent asset manager, is exploring the creation of a new cryptocurrency fund tailored for institutional investors, signaling a diversification beyond the dominant assets like Bitcoin and Ether.

Reportedly, the fund, as per sources familiar with the matter, would introduce institutional investors to a variety of altcoins while also providing opportunities for staking rewards.

Although specifics regarding the altcoins in the fund remain undisclosed, Franklin Templeton has recently expressed admiration for the growth of the Solana network throughout 2024, particularly noting its significant increase in decentralized exchange volume during the first quarter.

With approximately $1.64 trillion in assets under management as of March 2024, Franklin Templeton stands as one of the largest investment management firms globally, signaling substantial interest and potential influence in the cryptocurrency space.

READ MORE: Ripple CEO Advocates for Diverse Altcoin ETFs

The company has already made strides in the crypto sector with initiatives like its spot Bitcoin exchange-traded fund (ETF), launched earlier this year, and its anticipation of a spot Ether ETF, awaiting regulatory approval from the United States Securities and Exchange Commission (SEC).

Additionally, Franklin Templeton unveiled a new feature on its Benji Investments platform, allowing investors to leverage the USD Coin (USDC) stablecoin to invest in its Franklin OnChain U.S. Government Money Fund (FOBXX), demonstrating a further integration of cryptocurrency into traditional investment vehicles.

This money market fund, managed by Franklin Templeton, notably utilizes blockchain technology for transaction processing and ownership recording, showcasing a forward-looking approach to fund management.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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