Bitcoin
Franklin Templeton goes beyond Bitcoin and Ethereum and seeks a new investment fund focused on cryptocurrencies for institutional investors
June 7, 2024 7:16 am | 1 minute reading
Franklin Templetona prominent Silicon Valley asset manager with $1.6 trillion in assets is reportedly exploring creating a new investment fund dedicated to cryptocurrencies.
What happened: This private fund would serve institutional investors and include investments in cryptocurrencies beyond just Bitcoin (CRYPTO: Bitcoin) It is Ethereum (CRYPTO: ETH). Additionally, the company is considering distributing staking rewards to the fund’s investors, The Information reported.
This move positions Franklin Templeton among a growing list of traditional financial giants entering the digital asset market to offer cryptocurrencies and tokenized asset investments to their clients.
Read too: Why Bitcoin May Not Hit a New All-Time High This Month: 10x Research
Earlier this year, Franklin Templeton launched a spot bitcoin exchange-traded fund (ETF) in the US and applied to list a similar ETF for Ether.
The company had previously started a tokenized US government bond fund on the Stellar (XLM) network in 2021, setting a precedent before Black stonesimilar initiatives.
This evolution reflects a broader trend in the financial sector, where traditional companies are increasingly adopting digital assets.
The potential introduction of Franklin Templeton’s cryptocurrency-focused investment fund could significantly influence the market, providing institutional investors with more diversified exposure to the cryptocurrency landscape.
What is the next: For more information on these trends and their implications for the digital asset industry, the next Benzinga Future of digital assets The event on November 19th will feature discussions from leading industry experts.
Read next: Bitcoin could reach US$500,000 by October 2025, says Silicon Valley VC
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