Altcoin
Franklin Templeton Eyes Institutional Altcoin Fund
Franklin Templeton Investments logo in front of its local headquarters in Toronto, Ontario. Source: Jerome – stock.adobe.com
Key points:
- Franklin Templeton plans to launch a private fund aimed at 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, which manages $1.64 trillion in assets, is already involved in the cryptocurrency space, including Bitcoin and Ether ETFs, and uses blockchain for its Franklin OnChain US Government Money Fund.
Asset manager Franklin Templeton is planning to launch a private fund aimed at 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 preparing to launch a new crypto fund, as old-school money managers branch out from bitcoin.https://t.co/OJTRzojvua
From @Yueqi_Yang
— The information (@the information) June 6, 2024
The exact altcoins were not specified, but the company has shown interest Solananoting its significant growth in decentralized trading volume.
If Franklin Templeton is bringing his legendary active stock picking approach to cryptocurrencies, this is incredibly bullish for non-major cryptocurrencies.
(The Fidelity Magellan Fund managed by Peter Lynch averaged an annual return of 29.2% between 1977 and 1990, more than double… https://t.co/brSF89FH2j
—Arthur (@Arthur_0x) June 6, 2024
Franklin Templeton, who manages approx $1.64 trillion in assets, is already involved in the cryptocurrency space, including a Bitcoin ETF and an imminent Ether ETF.
Fresh off the approval of the Ethereum ETF, Wall Street asset manager Franklin Templeton is reportedly considering launching a new crypto fund focused on altcoins. Click to read: https://t.co/oOHgIyRBJv
— Decrypt (@decryptmedia) June 6, 2024
Additionally, the company recently introduced a feature on its Benji Investments platform that allows investments through Currency in USD in its Franklin OnChain US Government Money Fund, a pioneering mutual fund that uses blockchain for its operations.
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Fleming Airunugba, a Web3 and crypto content expert, leverages his deep knowledge of blockchain technology to bring the latest and most impactful news to the crypto community.
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