- Franklin Templeton is weighing launching a new private crypto fund that would invest in a range of cryptocurrencies beyond Bitcoin and Ether.
- The fund would offer exposure to various cryptocurrencies and potentially provide staking rewards.
- The Information first reported on Franklin Templeton’s plans for the new crypto fund.
Franklin Templeton, one of the world’s largest investment managers, is considering launching a private crypto fund that would offer exposure to a range of cryptocurrencies beyond just Bitcoin and Ether, according to a report by The Information on June 6, 2024. The potential new fund highlights growing interest in the crypto space among traditional financial institutions.
Details on the Potential New Crypto Fund
The private fund being weighed by Franklin Templeton would invest in a variety of digital assets beyond the two largest cryptocurrencies, Bitcoin and Ether. The fund would potentially provide staking rewards as well, according to The Information’s sources.
Franklin Templeton President and CEO Jenny Johnson spoke at the Consensus conference in 2024, indicating the asset manager’s interest in expanding into crypto. The firm has over $1.4 trillion in assets under management currently.
Reaction
The report of Franklin Templeton’s exploration of a new crypto fund comes as many traditional financial institutions are looking at ways to get involved in the burgeoning digital asset space. Major players like BlackRock and Goldman Sachs have also taken steps towards crypto services and investments.
Regulated crypto investment products would provide broader investor access to cryptocurrencies. However, challenges like regulatory uncertainty persist.
Conclusion
While details are still limited, Franklin Templeton’s potential new crypto fund would be a notable move by a mainstream investment firm to expand offerings into digital assets. More developments will likely emerge as cryptocurrencies continue seeing greater adoption.
