Key Takeaways:
- Franklin Templeton plans to launch a private fund targeting institutional investors, focusing on altcoins beyond Bitcoin and Ether.
- The fund will include staking rewards and has expressed interest in altcoins like Solana.
- Franklin Templeton, managing $1.64 trillion in assets, already has involvement in the cryptocurrency space, including Bitcoin and Ether ETFs, and uses blockchain for its Franklin OnChain U.S. Government Money Fund.
Asset manager Franklin Templeton is planning to launch a private fund targeting institutional investors, focusing on altcoins beyond Bitcoin and Ether.
This new fund will provide access to a variety of altcoins and include staking rewards.
Exclusive: Franklin Templeton is gearing up to launch a new crypto fund, as old-school money managers branch out from bitcoin.https://t.co/OJTRzojvua
— The Information (@theinformation) June 6, 2024
By @Yueqi_Yang
The exact altcoins haven’t been specified, but the firm has shown interest in Solana, noting its significant growth in decentralized exchange volume.
If Franklin Templeton are bringing their legendary active stock picking approach to crypto, this is incredibly bullish for the non-major crypto.
— Arthur (@Arthur_0x) June 6, 2024
(The Fidelity Magellan Fund managed by Peter Lynch returned 29.2% annual return on average between 1977 and 1990, more than twice of… https://t.co/brSF89FH2j
Franklin Templeton, which manages about $1.64 trillion in assets, already has involvement in the cryptocurrency space, including a Bitcoin ETF and an upcoming Ether ETF.
Fresh off of Ethereum ETF approvals, Wall Street asset manager Franklin Templeton is reportedly considering launching a new altcoin-centric crypto fund. Click to read: https://t.co/oOHgIyRBJv
— Decrypt (@decryptmedia) June 6, 2024
Additionally, the firm recently introduced a feature on its Benji Investments platform allowing investments via USD Coin in its Franklin OnChain U.S. Government Money Fund, a pioneering mutual fund utilizing blockchain for its operations.
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