Multitrillion-dollar fund manager Franklin Templeton has applied for a new crypto fund for institutional investors.
Franklin Templeton, which manages approximately $1.4 trillion worth of assets, is launching a cryptocurrency fund for institutional investors. The investment firm has filed related documents with the U.S. Securities and Exchange Commission (SEC) called the Franklin Templeton Blockchain Fund II.
This will be the second crypto-related fund Franklin Templeton has introduced after revealing a fund for individually managed accounts (SMAs) to investment professionals in late 2022. The move is an important one and shows that more traditional financial firms want to offer their products. Crypto related.
The minimum investment in the fund is $100,000, according to the filing. We don’t have much information about the details, but that should change in the coming months.
The application states that the fund’s opening period is unlikely to exceed 12 months. The company has yet to officially comment on the matter.
It is clear that private equity is entering the cryptocurrency market in earnest. In 2023, we may see more similar applications from incumbent financial firms eager to enter the market.
Fund manager launches mutual fund on Polygon
Franklin Templeton is one of the largest established companies that really seems to be picking up pace when it comes to introducing cryptocurrency products.The company has one of its products, his polygon blockchain. Called the OnChain US Government Money Market Fund (FOBXX), the product will tokenize US government securities, cash and Gensaki contracts.
As a result, it became the first U.S. registered mutual fund to use a blockchain network to record and process transactions.of stellar network also announced that the fund will be available on its network.
Franklin Templeton also launched an ETF focused on the Metaverse ETF and the Blockchain ETF. The company believes the Metaverse has potential. This is a pioneering concept that will become a breakthrough concept in the years to come.
An ETF called the Franklin Metaverse UCITS ETFtracks the Solactive Global Metaverse Innovation Net Total Return Index. The latter tracks the stocks of companies engaged in, or exposed to, metaverse initiatives.
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