Franklin Project Launches Cryptocurrency Private Equity Fund Investing in Competitive Coins and Offering Staking Incentives
One of the world’s largest asset management companies, Franklin Templeton, is considering launching a new encrypted private equity fund, which will cover competitive coins and staking rewards.
Franklin’s CEO: Tokenization is like “steroid securitization”, leading the market through a huge transformation.
According to The Information, Franklin Templeton is considering launching a new private equity fund to allow institutional investors to access competitive coins and provide staking rewards.
This move will expand the company’s product range, surpassing its current BTC and ETH funds. As of March 2024, Franklin manages around $1.64 trillion in assets, making it one of the world’s largest investment management companies.
The report did not mention which competitive coins the fund will cover.
In addition to focusing on encrypted 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 approximately $357 million in assets and is the first US mutual fund to process transactions and record ownership on a public blockchain (Polygon). Each share is held in BENJI tokens and converted with the assistance of the encrypted infrastructure platform Zero Hash.
Previous reports have shown that BlackRock, the asset management giant, has surpassed FOBXX with its first tokenized fund, BUIDL, within six weeks.
Tokenized bond market share
BTC
ETH
FOBXX
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Competitive coins
Read more: BlackRock’s BUIDL market value surpasses Franklin’s FOBXX within six weeks, becoming the world’s largest tokenized fund.
The tokenized US bond market continues to grow, with Franklin’s FOBXX enabling on-chain P2P transactions.
