Key Points
- Franklin Templeton is reportedly planning a new cryptocurrency fund that would invest in tokens other than Bitcoin and Ethereum.
- The asset management firm is also considering offering staking rewards as part of the new fund.
Franklin Templeton, a well-known issuer of a spot Bitcoin ETF in the U.S., is reportedly exploring the possibility of launching a new cryptocurrency fund.
This new fund would not focus on Bitcoin or Ethereum, but rather on other types of cryptocurrency tokens.
Expanding Beyond Bitcoin and Ethereum
In addition to its spot Bitcoin ETF, which currently manages more than $350 million, Franklin Templeton has also applied to list a spot Ethereum ETF.
However, the new fund under consideration would expand its focus beyond these two leading cryptocurrencies.
Additionally, the firm is contemplating the inclusion of staking rewards as part of this new fund offering.
Staking Rewards and Global Expansion
When spot Ethereum ETFs first received approval last month, staking rewards were not included in the proposed financial instruments.
However, Franklin Templeton’s consideration of staking rewards indicates a potential shift in this approach.
While the firm’s spot Bitcoin ETF has not seen the same level of success as similar products offered by BlackRock and Fidelity, Franklin Templeton is reportedly eager to grow its digital assets business outside the U.S.
Founded in 1947, Franklin Templeton is a globally recognized asset manager with more than $1 trillion in assets under management.
