The Franklin Project launches a crypto private equity fund, investing in competitive coins and offering staking rewards.

One of the world's largest asset management companies, Franklin Templeton, is considering launching a new cryptocurrency private fund that will cover competitive coins and staking rewards.

Franklin CEO: Tokenization is "steroid securitization," leading the market through a massive transformation.

Franklin Templeton to Launch Crypto Private Fund

According to The Information, asset management firm Franklin Templeton is considering launching a new private fund to allow institutional investors access to alternative coins and provide staking rewards.

This move will expand the company's product range beyond its current BTC and ETH funds. As of March 2024, Franklin manages around $1.64 trillion in assets, making it one of the world's largest investment management firms.

The report did not mention which alternative coins the fund will cover.

Franklin CEO: Holding BTC, ETH, and Governance Tokens, Firmly Bullish on Bitcoin Investment Demand

RWA Platform Benji Investments

In addition to focusing on crypto ETFs, Franklin announced on June 6 that investors on its Benji Investments platform can now invest in Franklin's OnChain U.S. Government Money Fund FOBXX using USDC.

The fund has about $357 million in assets and is the first U.S. mutual fund to process transactions and record ownership on the Polygon public blockchain. Each share is held in BENJI tokens and converted with the help of crypto infrastructure platform Zero Hash.

Previously, BlackRock, the asset management giant, surpassed FOBXX with its first tokenized fund, BUID, becoming the largest tokenized fund globally.

BlackRock's BUIDL Market Cap Surpasses Franklin's FOBXX within Six Weeks, Now the World's Largest Tokenized Fund