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Wall Street asset manager Franklin Templeton plans to launch a new altcoin-focused crypto fund.
The private fund would be aimed at institutional investors and could also potentially offer staking rewards, according to a report published Thursday in Information citing people with direct knowledge of the plans.
Franklin Templeton, the American financial giant that manages some $1.6 trillion in assets, is no stranger to cryptocurrencies. The firm has been involved in digital assets since 2018; he launched a Spot Bitcoin ETF in January, and will be among the first issuers of newly approved securities spot Ethereum ETFs.
By diving beyond these two blue-chip cryptocurrencies into the altcoin space, the Wall Street titan appears to be signaling that it is comfortable with the types of tokens that the Securities and Exchange Commission (SEC) United States has had it for a long time. classified as unregistered titles.
But Thursday’s decision comes, crucially, in the wake of the SEC’s abrupt decision. approval Ethereum spot ETFs last month, although the regulator allegedly classified Ethereum internally as an unregistered security for over a year. Experts have turned around to signal the proverbial opening of a floodgate, and predicted that other altcoins will soon be integrated into US financial markets.
Edited by Andrew Hayward
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