Franklin Templeton exploring crypto fund for tokens other than bitcoin and ether: report

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The Block2024/06/06 17:35

By:RT Watson

The issuer of a spot bitcoin ETF, Franklin Templeton is mulling the launch of a new crypto fund that would invest in tokens other than BTC and ETH, according to a report.The firm is also considering offering staking rewards as part of the new fund, the report said.

Franklin Templeton, an issuer of a spot bitcoin ETF in the U.S., is considering the launch of a new crypto fund that would invest in tokens other than BTC and ETH, according to The Information , which cited anonymous sources.

Besides its spot bitcoin ETF, which has more than $350 million under management, according to The Block Data Dashboard , Franklin Templeton has also applied to list a spot ether ETF.

With this new crypto fund, if launched, Franklin Templeton is considering offering staking rewards as part of the fund, the report said. When spot Ethereum ETFs gained initial approval last month, staking rewards were not included in the proposed financial instruments.

Franklin Templeton did not immediately respond to The Block's request for comment.

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While Franklin Templeton's spot bitcoin ETF's success pales in comparison to the products offered by BlackRock and Fidelity, the firm is keen to expand its digital assets business outside the U.S., according to the report.

Franklin Templeton is an asset manager founded in 1947. It has more than $1 trillion in assets under management.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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